Skip to main content

Sudan Says U.S. Backs Its WTO Bid as Sanctions Decision Due

The U.S. is backing Sudan’s bid to join the World Trade Organization, a Sudanese official said, days before Washington is due to decide whether to permanently lift some sanctions imposed on the African country two decades ago.
“Our team is very much satisfied with the support of the U.S. for Sudan going into the WTO,” Sudanese State Investment Minister Osama Faisal Elsayed Ali said in an interview. The North African nation has “done all our homework” and will apply for membership when the WTO’s top decision-making body meets in Buenos Aires in December, he said by phone from Sudan’s capital, Khartoum.
President Barack Obama’s administration in January ordered the reversal of some of the economic sanctions the U.S. placed on Sudan in 1997, four years after listing it as a state sponsor of terrorism. Secretary of State Rex Tillerson is due to report to President Donald Trump by July 12 on whether to make the cancellations permanent.
Sudan’s accession to the WTO will require commitments that “support a trade regime built on transparency, predictability, and the rule of law,” the State Department said in an emailed response to questions. “The WTO accession process is fundamentally a domestic reform process, and it is driven by substance, not artificial deadlines.” The department neither confirmed nor denied the U.S. is backing Sudan’s WTO bid.
Oil-producing Sudan sees a permanent removal of the sanctions as key to reviving the economy, which lost three quarters of its crude reserves with South Sudan’s secession in 2011. If that happens, Sudan will amend its current five-year economic plan and open the country to investments from the U.S. and other countries, boosting industries such as oil, mining and agriculture, according to Ali.
“We need a transfer of technologies” from the U.S. to “add value” to the sugar, power, agriculture and livestock sectors, he said. “That will help us make a quick leap.”
The U.S. Central Intelligence Agency and Federal Bureau of Investigation have been in talks during the six-month review period with the director of Sudan’s National Intelligence and Security Service, Mohammed Atta al-Mawla, about opening offices in Khartoum, Sudanese Foreign Minister Ibrahim Ghandour said in a phone interview. He cited “excellent” progress in the discussions, particularly on counter-terrorism.
“I think that cooperation can lead to opening up offices and directly basing,” Ghandour said on Sunday. “Of course, if we want to have cooperation on those issues, we need to pave the way by lifting whatever obstacles that may prevent that cooperation to go in the best possible way.”
Sudan first applied to join the WTO in 1994, but its efforts faced 13 years of “stagnancy,” its international cooperation minister, Osman Ahmed Fadul Wash, told WTO members in Geneva in January. A committee headed by Vice President Hassabo Mohamed Abdul-Rahman is supervising Sudan’s application for the December meeting, where Sudan will need to present a memo on all aspects of its trade and economic policies that have a bearing on WTO agreements.
Sudan will need the support of two-thirds of the WTO’s members to join. In January, Japan announced a $100,000 donation to support Sudan’s accession efforts, China re-affirmed its support, and other WTO members backed the resumption of Sudan’s negotiations.
Sudan has about 1.5 billion barrels of proven oil reserves, according to BP Plc statistics. Gold output was estimated at about 75 metric tons last year, according to the government.

Comments

Popular posts from this blog

Police Bust Alleged $13 Million Crypto Pyramid Scheme

Police in China's northwestern city of Xi'An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people. According to a report  from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect who has has the surname Zheng, as well as three other accomplices. The report cited an investigation from the police who said the scheme used a cryptocurrency called Da Tang Coin (DTC) that is linked to DTC Holding  - a firm under the suspect's control and registered in Hong Kong - to allegedly hoax potential members of the pyramid scheme. In various promotional events in multiple cities in the country, the scheme claimed that new members can make 80,000 yuan (roughly $13,000) per day with an initial investment of $480,000 to purchase the DBTC at $0.50 per token, according to the report. These promises of

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan. What is Electroneum? Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine. Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background. It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins. Being a  cryptocurrency , Electroneum is created, held, and spent electronically, and h

How to spend your Bitcoin and Ethereum in South Africa

As Bitcoin and Ethereum gain popularity among investors, an increasing number of users are creating cryptocurrency wallets. The wallets are either hosted through an online provider or stored on the user’s hardware. From these wallets, cryptocurrency owners can make transactions on a blockchain, interact with exchanges and other users, and in the case of the Ethereum blockchain, programme autonomous contracts. Sending cryptocurrency through the blockchain is quick and easy, but using cryptocurrency in lieu of fiat currency is still limited. South African stores and services are slower to adopt cryptocurrencies than more developed countries, but users can still buy products locally with Bitcoin or Ethereum. Stores There is a growing list of stores in South Africa which accept Bitcoin as a payment option – many of which offer the option by allowing users to pay with  PayFast . PayFast has partnered with South African Bitcoin exchange Luno to provide users with a way to pay