Sudan has captured the attention of Ithraa – Oman’s inward investment and export promotion agency – as an emerging and growing market for Omani exporters. Saif al Maamari, Ithraa’s Export Development Director led a team on an exploratory trade visit to Sudan, during December 10-11 where he held meetings with government officials as well as representatives from the Sudanese business community.
The aim of the mission was to explore trade relations between Oman and Sudan and for Ithraa management to strengthen their knowledge of the many and growing commercial opportunities in Sudan.
“The exploratory trade mission to Khartoum was exciting giving my team the opportunity to see firsthand the opportunities Sudan offers Omani exporters. Indeed, we look forward to building a lasting trade relationship with Sudan that brings benefits to both our countries,” explained Nasima al Balushi (pictured), Ithraa’s Director- General for Export Development & Acting Director-General for Investment Promotion.
According to United Nations data, foreign direct investment in Sudan fell from $2.3bn in 2010 to $1.3bn in 2014, before recovering to $1.7bn in 2015. However, highlighting the country’s potential growth sectors, Nasima al Balushi explained: “We’ve recently seen significant European, Arab and Chinese investment going onto Sudan, particularly in oil, lubricants and pharmaceuticals. Away from oil, agriculture and livestock also offer exciting opportunities for Sudan’s economic diversification — a sector that could potentially contribute to the country’s medium-term macroeconomic stability.”
The Ithraa team also participated alongside three Omani companies at the Arab-African Conference for Pharmaceutical Industries & Medical Supplies during December 12-14 in Khartoum.