Humaid Mohammed bin Salem, Secretary-General of the Federation of Emirates Chambers, affirmed the UAE’s keenness to support development and development efforts in the countries of the African continent, indicating that within the framework of the UAE’s current trend in developing economic and trade relations rapidly with African countries, it is expected that the volume of Trade exchange between the UAE and Africa will increase by 30% in the next few years.
And he made it clear during a press conference at the headquarters of the Dubai Press Club yesterday, to announce the next session of the African Intra-African Trade Fair (IATF 2023), which will be held in Cairo from November 9 to 15 next, that in the framework of enhancing trade cooperation, more than 30 trade missions conducted An Emirati woman visited Africa from 2022 to August 2023, in addition to organizing more than 150 joint activities with the African continent in the UAE and Africa, including conferences, business forums, and bilateral meetings related to the business sector.
He added that there are dozens of Emirati companies, the most important of which are Masdar and DP World, which operate in Africa in several sectors, the most important of which are energy and renewable energy, agriculture, transport and logistics, while there are more than 45,000 African companies operating in the UAE.
He emphasized that given the UAE’s investment capabilities and strategic location, it could constitute a transit trade corridor for African exports and imports from and to various countries of the world, especially to the Asian continent, where the two sides can build a strong partnership in many fields.
The conference was attended by Kanayo Awani, Executive Vice President of the Intra-African Trade Bank, Afreximbank, Khaled Al Ali, Regional Director – Middle East and Africa, Dubai International Chamber, and Waleed Hareb Al Falahi, CEO of the Emirates Trade Centre.
Kanayo Awani said that the African Intra-Trade Exhibition constitutes a major initiative to support the African Continental Free Trade Area, and an important platform to introduce the capabilities of the African continent in the field of trade and investment, calling on the UAE private sector to participate in the exhibition to learn about the opportunities that the continent abounds.
Awani reviewed the main initiatives and programs offered by the African Export-Import Bank, Afreximbank, to facilitate trade and investment, stressing that the African continent is eligible, through the African Continental Free Trade Agreement, for an important transformation in trade, reshaping markets throughout the region, and enhancing production in the manufacturing and services sectors. It will radically transform the economic structure of Africa and reduce Africa’s dependence on the export of raw materials.
In turn, Khaled Al Ali said that the continent of Africa does not only constitute the future for the world, but rather the present that is full of many opportunities, pointing to the fact that the Dubai Chambers opened representative offices several years ago in the countries of the continent with plans to continue expanding in adding other offices to enhance the orientation of Emirati companies to African markets.
For his part, Walid Hareb Al Falahi reviewed the opportunities available in Africa and how the Emirates Trade Center acts as a facilitator for Emirati companies seeking to do business in Africa, stressing the importance of African markets and their great potential for business growth, considering that the African exhibition will be an opportunity for Emirati companies to learn about sectors opportunities in these markets.
The Intra-African Trade Fair is Africa’s largest trade and investment fair, and a key platform for importers and exporters looking to tap into a single market of 1.4 billion people created by the African Continental Free Trade Area with a GDP of over US$3.5 trillion.
2023-08-24 13:39:49
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