A+ A-

Sudan, Turkey study trade exchange in local currencies

KHARTOUM, June 2 (KUNA) -- The Sudan and Turkey are to study settling bilateral trade exchange in local currencies, the Central Bank of Sudan (CBS) said on Saturday.
CBS Governor Hazem Abdul-Kader and Turkish counterpart Murat Cetinkaya have agreed on the issue, the CBS said in a statement.
According to the CBS, more Turkish banks are posed to open branches in Khartoum in the near future, which will help Turkish investors in Sudan to enhance investments there, and in the meantime streamline transfer of profits.
This is an incentive for the private sector in both countries to increase joint investments and partnerships.
During Turkish President Recep Tayyip Erdogan to Khartoum late in 2017, the two countries agreed to raise trade exchange to USD 1 in 2018, hoping it will jump to USD 10 billion over the coming years. (end) mmm.msa