Spotlight: U.S. sanctions relief to improve Sudan's economy -- Sudanese officials, analysts

Sudanese politicians and economic analysts on Saturday expressed the belief that the U.S. decision to lift some economic sanctions on Sudan will improve Sudan's economy which has suffered from the U.S. embargo for 20 years.

"Lifting the U.S sanctions on Sudan was one of the great hopes upon which foreign and national investors build," Sudanese Investment Minister Mudathir Abdel-Ghani said here on Saturday.

According to him, due to the U.S. long-term economic sanctions, Sudan has had difficulties in cash transfers and direct equipment and investment movements in the past two decades.

"The U.S. decision came at an important phase coinciding with the economic reforms (of Sudan)," Abdel-Ghani said. "This move enables investors to carry out their banking transactions freely and facilitate the movement of capital to Sudan."

In Sudan, industry was one of the most affected sectors by U.S. sanctions, as the sector has been prevented from importing strategic commodities, equipment and spare parts.

"We were unable to import spare parts for the industrial sector," Sudanese Industry Minister Abdou Daoud said, "We used to get spare parts through mediators."

The easing of sanctions would help Sudan import industrial commodities more freely, he said.

The U.S. sanctions upon the African country have also caused a shortage of medicines and soaring prices. The easing of the sanctions would help increase medicines at the Sudanese market and lower the prices, the Sudanese National Medicines and Poisons Board said.

Sudanese economic analyst Abdul-Khaliq Mahjoub gave Xinhua a list of the direct positive effects of the easing of sanctions.

"The release of frozen assets is likely to improve the foreign exchange market and raise the value of the national currency," said Mahjoub.

"The exports will also witness a great flourishing as a result of the arrival of Sudanese products to American and European markets which were used to be closed," he noted.

After the easing of sanctions, Sudanese companies will be able to present their shares in New York Stock Exchange and in international stock exchanges to get funds to expand their business, the analyst added.

On Friday, outgoing U.S. President Barack Obama announced his decision to lift a 20-year-old trade embargo, unfreeze assets and remove financial sanctions against Sudan, as a response to Sudan's cooperation in fighting Islamic State and other terrorist groups.

However, the sanctions relief will be pending for 180 days for review, leaving the final decision to President-elect Donald Trump and his administration.

The United States has been imposing sanctions on Sudan since 1997. Since then, Washington has been renewing its sanctions on Sudan due to the continuing war in Darfur, Blue Nile and South Kordofan regions, along with a number of outstanding issues with South Sudan, including the disputed oil-rich area of Abyei.

However, last February, the United States announced its decision to loosen the sanctions on Sudan by allowing the export of personal communications hardware and software, including smart phones and laptops.

In October 2015, Washington also expressed its willingness to cooperate with Sudan in counter-terrorism and preventing the flow of terrorists to Sudan and other conflict areas.

According to economic reports, Sudan's annual loss from the U.S. sanctions amounts to over 4 billion U.S. dollars. It has also been suffering an escalating economic crisis since the secession of South Sudan in 2011. Endi