Former Official Outlines Challenges for Sudanese Gold Exports to New Markets
Sudan Events – Rihab abdalla
Dr. Mujahid Al-Bilal, former Director of the Sudanese Mineral Resources Company, highlighted several challenges facing Sudan’s gold exports to new markets. Chief among them is that many countries impose customs duties on both imports and exports of gold. Additionally, most Sudanese gold is privately owned and was traditionally exported to the UAE by companies tied to the same owners.
He explained that exporters will need time to adjust to new market environments. Previously, much of the gold was transported by individuals, with visas and residency permits issued with little difficulty to staff carrying gold. New markets, however, require more complex arrangements.
Another challenge is that many countries have strict banking regulations, complicating direct financial transfers to Sudanese banks to meet export revenue requirements. This will require procedural adjustments by the state. Furthermore, mutual recognition of gold purity standards will take time, as it depends on agreement over accredited refineries — a key document for export transactions and revenue clearance.
