South Sudan holds annual trade expo to boast local products

JUBA, Oct. 15 (Xinhua) -- South Sudan on Monday opened its second edition of the Made-in-South Sudan Exhibition aimed at promoting locally-made products and open up the country's investment opportunities.

Paul Mayom Akech, Minister of Trade, Industry and East African Community Affairs said this year's event focuses on exposing the country's agriculture and manufacturing potentials in a bid to reduce dependence on imports.

Akech said the government seeks to boost South Sudan's manufacturing sector through enacting laws to safeguard investors and the local consumers.

"Our immediate task is to enhance policies that will safeguard the producer and the consumer. Engage with financial institutions to provide resources to this local business groups, find them market outside South Sudan and make conditions of export easier for them," Aketch said.

The event which brought together over 50 exhibitors is supported by the United Nations Development Program (UNDP) and it will run until Oct. 20.

Participants are drawn from sectors such as agriculture, construction, cosmetics, beverages, electronics, textiles, banking and insurance among others.

South Sudan depends on oil revenue for over 90 percent of its budget, but production reduced significantly due to civil war that erupted in December 2013, causing most oilfields in the country's oil-rich northern region to shut down.

The east African nation is currently struggling with hyper inflation amid shortage of foreign reserves to support its import-dependent economy.