US lifts Sudan sanctions

CNC
Added On October 12, 2017

After nearly 20 years, the US will lift economic sanctions against Sudan on Thursday.
 
Sudanese economists are calling the day a turning point, as the impoversished country looks to reestablish itself on the world market.
 
For nearly two decades, U.S economic sanctions have severely damaged the Sudanese economy.
 
More than 7 million U.S. dollars of assets were frozen, and the sanctions exposed foreign investors to heavy losses.
 
Perhaps the biggest damage though was to Sudan's reputation, sowing doubt between Sudan and the rest of the world.
 
Now with the sanctions about to be lifted, businesses are eagerly looking forward to freely trading again.
 
SOUNDBITE 1 (Arabic) ALI SALAH ALI, Chairman of Sudanese Importers Union
"The decision is important and our sectors are happy with it. The effects are positive, but they may take some time. However, we do not expect anymore economic deterioration. We expect improvement, even if it is slow."
 
Analysts are now calling on the Sudanese government to develop a package of policies to make the most of the new freedoms.
 
Hassan Al-Saoury, Sudanese Political and Economic Analyst, says that "If we worked to establish full economic, trade and industrial partnerships with the parties of interests in America, we will secure prevention against a new U.S. decision against us."
 
On Oct. 6, the United States decided to lift its economic sanctions on Sudan permanently.
 
Sanctions have been in place since 1997, with the US listing Sudan as a country who sponsors terrorism.