Trading Policies

Trade Policies:
The ministry of foreign trade, within their plans and strategies has been keen to adopt the free trade policy, as an instrument for quality assurance through free competition and accessing foreign markets in order to achieve the aspiration of economic development, progress, and economic growth leading to alleviation of poverty, raising the living standards among the local community, culminating in a degree of affluence to the citizens in Sudan.
WTO, UNCTAD, COMESA and the CFC, are all united upon a common economic and trade goal which implies facilitation of trade and enhancement of trade exchange conditions of both export and import and accessing foreign markets. Simplification of related procedures and improvement of services for export / import commodities has become a prime requisite in order to boost exports and as a result achieve the much desired social and economic development. The common objectives of these organizations are summarized as follows:

Facilitation of Trade:
1. Reduction and removal of custom duties imposed on export commodities, so as to enable accessing foreign markets at zero tariffs.
2. Contribution of the Institutions and international organizations in financing mutual trade exchange as well as funding infra structure of projects and industries, which in turn is expected to contribute towards improving competitiveness of the local product. The institutions may also contribute to insurance of export commodity insurance and providing facilities to simplify export procedures, such as the yellow card system used in transport, insurance for transit goods and trucks between countries, while simplifying custom, means of payment and monetary exchange procedures.

Enhancement and facilitation of Foreign Trade related services:
1. This relates to improvement of infra structure for communication, information and transport.
2. Compensation of losses in export revenue, thus contributing to reinvestment of these compensatory money and revenues in support of export sector and increase competitiveness.
3. Organizations, such as the CFC contribute in financing projects that would affect production and the export commodity’s ability to compete, such as the cotton, banana, fruits & vegetable projects.
4. Camera’s contributions to export development:
Simplification of foreign trade procedures, through implementation of projects such as;-
I. The yellow card project, which is insurance of vehicle transiting between the COMESA member countries.
ii. The custom ware house insurance.
iii. Application of the simplified trading system.
iv. Unification of custom clearance procedures. In addition to the facilities provided by the preference trade bank, the institute of leather and leather industries also contributes towards improvement of export oriented leather industries and leather products.