13/09/2012 (Bernama) - Sudan is still safe and stable to do business and invest in, with many major foreign companies already investing there, according to its Ambassador to Malaysia, Nadir Yousif Eltayeb.

He said Sudan hopes to attract more Malaysian companies following the lead of Petronas, one of the major foreign investors, and is inviting 200 Malaysian companies to a "Trade & Investment Forum" (MASUTIF) in Khartoum on Nov 1-5.

Last year, total trade between Malaysia and Sudan stood at US$94.4 million, an increase of 5.9 per cent from 2010.

Eltayeb told Bernama that the forum will feature Halal industries, free zone areas in Sudan and Islamic finance and banking, besides business matching sessions with relevant Sudanese private and public sector business institutions.

He said Sudan hopes to sign contracts with more Malaysian companies involving furniture as well as electrical, electronic and medical equipment.

"We hope by the end of the event to get at least 50 Malaysian companies to invest in our country," he said.

Sudan, with a population of 33 million, is a member of the Arab free trade zone and Common Market of Eastern and Southern Africa (COMESA), regions which are a huge potential market.

The republic is also a gateway to land-locked countries such as Chad, Central Africa, Ethiopia and South Sudan.

Eltayeb said Malaysian construction firms, which have a good reputation in Sudan, are welcome to the country especially in Darfur and Eastern Sudan, adding the projects will be funded by the United Nations and other donor agencies.

As an agricultural country, Sudan wants to benefit from the expertise of Malaysian institutions and companies to add value to its food products, which are mostly organically grown, he said.

Sudan exports gum arabic and roselle to Malaysia, and also plans to export onions, while Malaysia's exports to the country include rubber gloves, furniture, electronic, electrical and medical equipment, palm oil and cosmetics.

"We would also like to increase our beef and lamb exports to Southeast Asia. We have been exporting beef and lamb meat to Saudi Arabia and Jordan," he said.

At the end of the forum, Malaysian Islamic finance institutions are expected to set up branches in the republic to facilitate trade and investment between both countries.

Eltayeb also urged Malaysian companies to set up warehouses in Sudan to facilitate the export of Malaysian products to neighbouring countries.

"Sudan will be a good country for Malaysia to penetrate Southern and East Africa. Malaysian products produced in Sudan will enjoy zero tax, and they can be exported to the Middle East and Southern Africa," he said, adding Malaysian companies there will enjoy the same benefits and advantages as the local people.