Current Date:

Sunday, 19 November 2017

Business Vision: Contact OFAC

The most significant economic event that deserves discussion is the US sanctions on Sudan

, many economists and politicians don’t evaluate the process that adopted by both Khartoum and Washington to lift the sanctions that have been imposed since 1997.
The development in this issue indicated that US has decided to lift sanctions soon or later, US administration is hesitating to announce the total lift immediately or to keep the economic ties operating according to January the 12th resolution.
To renew or to expand the period for three months more is not bad, US wants to study the details, it has a right to do so, Sudan shouldn’t worry about the total lift, it is up to US to delay or accelerate, the recent decision taking by US president Donald Trump doesn’t affect the trade treatment between economic institutes in both countries.
 I do believe that US business communities can play a positive role to normalize Sudan US economic and even diplomatic ties, the policy of interest alongside the diversity of Sudan economic potentials forces US to lift sanctions in the near future.
Till now Sudan has a wide area of commercial freedom, to intensify contacts with US business is required, the well done economic plan can attract US companies to invest in Sudan, also the extension of the period doesn’t mean no importing or exporting.
The coming period is for building confidence with the Office of Foreign Assets Control (OFAC) the office that authorized by US treasury to give permissions to countries of US sanctions to import requirements.
During the last six months, people don’t enjoy the partial lifting of sanctions, the instability of prices affected the livelihood, how to make balance between individuals’ income and the uprising of prices that is increasing dramatically.
I wouldn’t like to down play the impact of sanctions on economic life, but I want focus on the impact of corruption which is become more serious than the total lifting of sanction, the freedom of exercising trade rights can change the fact from bad to good and from consumption to production.
Corruption spoils the chance availed by OFAC to stimulate business movement, so continuation of talks between business groups and curbing corruption contribute the total lifting of sanction in October.