$2 billion expected trade between Juba and Khartoum
Sudanese economists have estimated that the volume of renewed trade between South Sudan and Sudan following the implementation of cooperation agreements between the two countries may reach $2 billion.
Considered to have one of the longest borders in Africa, Sudan and South Sudan have renewed cross-border trade once more and it is expected that Khartoum will reap particular benefits.
Director General of the Sudan Export Development Bank (EDB), Mohammed al-Rashid Moham Salim, confirmed that the volume of trade exchange is expected to increase from 1.8 $ to 2 billion Dollars as approximately 170 everyday items are expected to be exported to South Sudan’s markets.
Al Rashid added that the two central banks will sign a cooperation agreement as part of the next phase in implementing wider cooperation and security agreements. There will also be recognised, agreed-upon customs points to manage the flow of goods.
Salim urged the two countries to speed up the process of cross-border trade.
It’s notable that Sudan will be the bigger beneficiary in this arrangement as South Sudan depends on Sudan in some way for about 75% of its consumer goods.
The move is likely to satisfy a number of cross-border traders and border residents alike who have been suffering economically from rising prices and lower access to goods as tension between the neighbours has risen following the oil shutdown early last year.