(JUBA CITY) – South Sudan is accelerating its preparations to join the World Trade Organization as part of broader plans to improve trade access, attract foreign investment and support local manufacturing.
National Minister of Trade and Industry Atong Kuol Manyang on Monday briefed Vice President Benjamin Bol Mel, who chairs the Economic Cluster, on recent progress in the country’s economic agenda. The update focused on policy reforms aimed at making South Sudan more competitive in regional and international markets.
Joining the WTO is seen as a major step towards aligning the country with global trade rules. Officials expect that membership would help local producers sell their goods more easily abroad while protecting them from unfair competition. It is also expected to encourage foreign investors who seek clear and predictable trade policies.
The briefing also covered plans to establish a South Sudan Industrial Development Bank. The proposed institution would act as a financial engine for local industries by offering loans, guarantees and support to small and large businesses. Government officials believe the bank could stimulate investment and create employment.
If the bank is set up with an initial capital of, for example, 10 billion South Sudan Pounds, it would equal around 1.4 million US Dollars based on current market rates where 7,100 SSP is equal to 1 US Dollar.
The Government of President Salva Kiir Mayardit has said it wants state institutions to work more efficiently to ensure that economic policies directly benefit citizens. Officials argue that WTO entry, coupled with a strong industrial finance arm, would signal to both local traders and foreign investors that South Sudan is serious about economic reform.
While no timeline has been confirmed for completing the WTO process or launching the industrial bank, the Ministry of Trade and Industry says consultations with regional and international partners are ongoing.
Traders in Juba have previously complained about limited access to finance and difficulties in exporting goods to neighbouring countries such as Kenya and Uganda. Business leaders say progress on these economic plans could reduce such barriers and strengthen regional trade links, including with northern Uganda and eastern Democratic Republic of Congo.
The government maintains that cooperation between the public and private sectors will be crucial in ensuring that trade reforms and financial institutions deliver long lasting benefits.
WTO Membership and Industrial Bank Top Economic Briefing
| Details | |
|---|---|
| Main Topic | South Sudan advancing WTO membership and proposing an Industrial Development Bank |
| Key Officials Involved | Trade Minister Atong Kuol Manyang, Vice President Benjamin Bol Mel |
| WTO Objective | Gain global market access, protect local producers, attract investors |
| Industrial Bank Purpose | Provide loans and guarantees to local businesses, stimulate job creation |
| Example Capital Conversion | 10 billion SSP ≈ 1.4 million USD (at 7,100 SSP = 1 USD) |
| Government Position | Committed to improving trade efficiency and economic reform |
| Expected Impact | Improved investor confidence, better access to finance, stronger regional trade |
| Current Challenges | Limited export capacity, weak financing options for traders |
