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South Sudan eyes gum arabic exports to diversify economy

Xinhua, June 9, 2016 Adjust font size:

South Sudan expects to boost exports of gum arabic in a bid to diversify its oil-dependent economy and widen its revenue, officials said on Thursday.

South Sudan depends on oil exports to finance 98 percent of its fiscal budget, however its oil sector has suffered from more than two years of civil conflict and low global oil prices.

Undersecretary in the Ministry of Trade and Industry, Biel Jock Thich, told Xinhua that the ministry was hoping to soon identify companies to export gum arabic, a key component of soft drinks and pharmaceuticals that could be produced from trees in the country's northern region.

"The government policy now is diversification of the economy," said Beil.

He said the ministry will hold a meeting on gum arabic on Friday to involve government agencies and private sector.

Gum arabic is in high demand in many countries as it could be used as an emulsifier to prevent sugar from crystallizing in fizzy drinks, as a thickener in confectionery and as a binder for drugs, cosmetics and postage stamps.

The ministry is also encouraging quality seed production that will support agriculture and working on reviving the defunct factories in the country. Endit