South Sudan President Salva Kiir has called on the business community from the United Arab Emirates (UAE) to invest in the country as Juba and Abu Dhabi seek to bolster economic ties.
Kiir, who received a delegation from the UAE on Sunday night in Juba, the capital of South Sudan, expressed his delight at the close relations between South Sudan and the United Arab Emirates, highlighting the prospects available to advance cooperation in several fields.
“The president further, welcomed the gesture of the United Arab Emirates to invest in South Sudan to foster the existing bilateral relations between the two countries,” the presidency said in a statement.
The UAE delegation led by Sheikh Shakhboot bin Nahyan Al Nahyan, State Minister in the UAE Ministry of Foreign Affairs & International Cooperation, is visiting South Sudan to tap investment in various sectors such as energy and infrastructure in the country.
The meeting was centered on bolstering economic cooperation between the two countries and a proposed General Cooperation Agreement between South Sudan and the UAE, aimed at deepening the existing bilateral relations and cooperation between the two countries in the areas of mutual interest.
Kiir noted that the Arab Gulf state expressed interest to invest in South Sudan in the areas of agriculture, infrastructure, energy, mining, wildlife, and tourism.
No date yet has been announced by the two countries when the cooperation agreement will be signed but officials from South Sudan including Kiir have in the recent past made frequent visits to the UAE to bolster economic ties and seek investment in Africa’s youngest nation.
South Sudan’s economy is struggling to recover from high inflation caused largely by years of conflict since December 2013 that hit its oil sector.
The country depends on oil revenues to finance 95 percent of its fiscal budget. Enditem