Sudan, South Sudan resume trade activity

Regional trade is expected to be the big winner as South Sudan and Sudan set to reopen the borders. The two countries agreed to resume trade activity and cooperate on transport and security beginning in early October. The news of this significant milestone comes after 11 years since South Sudan gained its independence and marks a new era of economic cooperation between the neighboring nations. Economic Analyst, Akol Dok, shed light on the missed opportunities over the past decade and the potential benefits that this trade agreement can bring. Both countries have been conducting informal trade activities through smuggling and the black market, but now they have the chance to formalize their trade relations and boost their economies. This agreement opens up avenues for South Sudan to export agricultural commodities like gum Arabic, sesame, and sorghum, while Sudan can export pharmaceuticals, cement, and other goods to South Sudan. Experts estimate that the trade volume between the two countries could exceed $2 billion per year, signaling a lucrative opportunity for both nations. The agreement also includes plans for the establishment of banks in South Sudan that can correspond with Sudan, facilitating smoother trade transactions and encouraging more traders to engage with Sudan. The impact of this agreement extends beyond just economic gains, as it will also stimulate investment and growth in the northern parts of South Sudan that previously had limited access to trade routes and markets. This development is expected to usher in a new era of prosperity and collaboration between Sudan and South Sudan, setting the stage for a mutually beneficial trade relationship that will drive economic development and stability in the region.