Wednesday, May 3, 2017

News Updates: Turkey, South Sudan ink economic cooperation deal

South Sudan will benefit the most being a non-member of World Trade Organization, Turkish economy minister says.

May 3, Ankara (Jonglei Times)-Turkey and South Sudan signed Wednesday a trade and economic cooperation agreement as a part of Turkey's goal of furthering commercial, political and economic relations with African countries

Speaking at a signing ceremony in Turkish capital Ankara, Nihat Zeybekci, Turkey’s economy minister, said that agriculture, livestock, education, healthcare, energy, fishery, mining, science and technology would be the primary areas of interest under the agreement. 

"South Sudan, which is not a World Trade Organization member, will earn the status of being the country provided with the most advantages. We will also establish a joint economic commission," Zeybekci said.
The minister added that they would also like to start working "immediately" on agreements to prevent double taxation, and to mutually encourage and protect investments.

Zeybekci stressed that Turkey considered Africa a "significant trade partner," and not just a provider of raw materials or a market for Turkish products. 

"Today our trade volume is around $20 billion. Turkish companies have invested over $6 billion in Africa," the minister said, adding the Turkish construction projects in the continent were worth some $58 billion.
"We would also like to improve our relations with South Sudan in line with our developing relations with Africa," Zeybekci said. 

The minister reiterated Turkey's desire for peace and stability in the war-ravaged country, and called on Turkish businesses to invest in energy and agriculture, in particular. 

South Sudan's Finance Minister Stephen Dhieu Dau, for his part, said that his government was seeking to further its cooperation with Turkey.

"We believe that Turkish business people will feel at home when they come to South Sudan. We invite them to invest in mining, agriculture, tourism, energy, infrastructure and oil," he said, adding the investments would be protected.

Since 2013, South Sudan has been torn mired in deadly conflict between government troops loyal to President Salva Kiir and rebels backing former Vice President Riek Machar. Fighting since has torn the country along ethnic lines, killing tens of thousands and displacing three million from their homes.

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