Somalia signs currency printing agreement with Sudanese firm

Dr Awad Ahmad al-Jaz, minister of finance and national economy, emphasized Sudan's readiness to support Somalia in the construction and reconstruction phase after the end of the war, addressing of conflicts and utilizing of Sudanese experience in rebuilding what the war has destroyed for the benefit of Somalia. He said that Sudan gained experience in dealing with the aftermath of war, boycotts, and sieges and faced the repercussions through determination and tenacity.

During a meeting in his office on 29 April with Sharif Hasan Shaykh Adam, Somali finance minister and deputy prime minister, Dr Al-Jaz pledged to provide the experience and expertise necessary to build the financial institutions and the Central Bank of Somalia. He pointed out the possibility of assisting Somalia with Sudanese cadres and experiences and provision of opportunities for training Somali cadres in Sudan.

Dr al-Jaz pointed out arrangements to activate relations between the private sector at the level of the two countries and exchanges of visits and experiences. He said that the door is open to any official Somali cooperation with Sudan to consult on the assistance and cooperation required. Dr al-Jaz expressed his hope that the agreement between Somalia and the Sudanese Currency Printing Press will culminate in the printing of Somali currency in Sudan.

The Somali finance minister revealed of a memorandum that was signed with the Sudanese Currency Printing Press. He noted Somalia's interest in printing currency as, which is considered to be one of the most important reasons for establishing the foundations of real peace and stability in Somalia.

Shaykh Adam emphasized his country's desire to activate the channels of bilateral trade with Sudan and the establishment of commodity exchange mechanisms between the two sides. He said that Somalia is highly dependent on the Sudanese government in laying the foundations for peace and development. He praised the support of the Sudanese government to his country during the transitional government period.

Source: Khartoum Suna News Agency