KUALA LUMPUR, March 7 (Bernama) -- A Sudan Shipping Company is forgingties with Halim Mazmin Bhd, Malaysia's mainline operator, to increasefreight frequency between the two countries, Sudan's Minister of FinanceAbdel Rahim Mahmoud Hamdi said here today.
He said that currently, the frequency was once every 15 days.
With the increase, Sudan could look forward to exporting more of its meatand livestock products, while Malaysia could provide it with moreinfrastructure services.
"For the past 10 years, Sudan's economy has developed tremendously, butthere is a shortage of development in the infrastructure industry," hetold reporters after a memorandam of understanding (MoU) signing betweenExport Import Bank of Malaysia Bhd (EXIM Bank), a wholly-owned subsidiaryof Bank Industri dan Teknologi Malaysia Bhd, and the Bank of Sudan.
Abdel Rahim said that the increase in frequency would also enable Sudan toimport more palm oil directly from Malaysia which would be comparativelycheaper.
At the moment, Sudan imports 50 million tonnes of palm oil per annum fromMalaysia through Dubai and Singapore.
He said that palm oil is one of the major edible oils consumed in Sudanwhich has a population of 32 million.
Meanwhile, Bank Industri's group managing director Md Noor Yusoff saidthat the MoU formalised a financial cooperation between the two bankswhich would focus on the promotion of exchange of information, ideas,technical expertise and training programmes.
He said that the signing would not only create a new business relationshipbetween both banks but also between both countries.
To-date, a total of 50 overseas projects valued at RM1.8 billion had beenapproved by Exim Bank.
Some of the projects financed included construction, exporting of capitalgoods such as palm oil mills, cranes, ships and telecommunicationequipment, of which 16 percent or RM297 million was approved under thecross border credit portfolio for investment in the African countries.
In 2000, Malaysia's exports to Sudan totalled RM373.3 million and totalimports stood at RM312.4 million in 2000. -- BERNAMA
Para 6, Sudan imports 50 million tonnes of palm oil per annum fromMalaysia through Dubai and Singapore.(Malaysia export to Sudan 17,600 tonnes of palm oil valued at RM15million. Oil World figures on Sudan import of palm oil for 2001 is 85,000tonnes. 50,000 tonnes of palm oil will be a logic figures but not 50million tonnes)