Turkey, Sudan ink deals on oil exploration

Turkish Petroleum Corporation to make investments in Sudan worth $100 million, says agriculture and forestry minister

Ensonhaber.com
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11.09.2018 17:26

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Sudan and Turkey signed two agreements on oil exploration and agriculture, Turkey's agriculture and forestry minister said on Monday.

100 MILLION DOLLARS INVESTMENT

With the agreements, Turkish Petroleum Corporation (TPAO) will make investments in Sudan worth $100 million, Bekir Pakdemirli told reporters following a closed-door meeting with Sudanese President Omar al-Bashir in the capital Khartoum.

He said the coordinates for Turkey's agricultural projects were designated in the second deal.

HUGE AREA

Previously, over 780,000 hectares of land in Sudan were earmarked for Turkish investors to carry out their agricultural activity.

The increase of both countries’ exports and Turkey’s requirements for agriculture would be guaranteed with the agricultural project.

"We will continue to work for two countries to receive the maximum benefit," the minister said.

The agricultural cooperation started in 1999, and the Turkish-Sudanese agricultural pact was signed later in 2014.

The bilateral pact aims to rationalize the use of resources and agricultural potential and contribute to sustainable food objectives.

Turkey and Sudan also decided to establish a joint agricultural and livestock company last March.

ZIRAAT BANK WILL BE IN SUDAN

Pakdemirli said the bilateral trade volume of the two countries was $481 million last year, and opening a branch of Turkey's Ziraat Participation Bank in Sudan was an important step to raise bilateral trade.

"The agreement-in-principle for the bank's branch also signed with the contribution of Turkish Deputy Trade Minister Fatih Metin," he added.

Pakdemirli also said Turkey's Mineral Research and Exploration General Directorate (MTA) established a company in Sudan and started to work on mines in the country.

The minister has started on Sunday a three-day-visit to Sudan with the private sector representatives for talks on economic cooperation.

Last December, a business forum was held in Sudan when President Recep Tayyip Erdogan visited the country.