Emirates News Agency – The Emirates is looking into ways to enhance trade and investment flows with African countries

Emirates News Agency – The Emirates is looking into ways to enhance trade and investment flows with African countries
Emirates News Agency – The Emirates is looking into ways to enhance trade and investment flows with African countries

– During a series of meetings on the sidelines of the “Global African Business Forum” hosted by “Expo 2020 Dubai”.

– Thani Al Zeyoudi: Africa is one of the world’s most attractive markets for investment in important strategic sectors for the UAE, such as renewable energy, agriculture and logistics.

– Al Zeyoudi reviewed the developments in the economic environment of the UAE and the “50 projects” .. He called on African companies to take advantage of the new trade and investment incentives and opportunities.

– Al Zeyoudi stresses the abundance of opportunities available to develop trade exchange between the UAE and 21 African countries that are members of the “COMESA” in a number of promising fields, including logistics services and advanced technology.

ABU DHABI, 19 October / WAM / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held a series of meetings with ministers, officials and businessmen from African countries to discuss ways to stimulate the flow of trade and investments between the UAE and the countries of the continent, on the sidelines of the Global African Business Forum, which Organized by Dubai Chamber and hosted by Expo 2020 Dubai, with the attendance and participation of more than 1,000 heads of state, policy makers and prominent business leaders in the African continent to agree on the main strategic priorities of the continent.

During the meetings, Al Zeyoudi reviewed the economic opportunities and potentials for the UAE-Africa partnership in sectors such as renewable energy, agriculture, minerals and logistics.

During the meetings, Dr. Al Zeyoudi briefed the ministers on the developments in the economic environment of the UAE during the past stage, including the fifty projects, new economic legislation and qualitative initiatives launched by the state to transform into a new knowledge-based economic model that is flexible, competitive and sustainable, and embraces talent and pioneering projects. His Excellency pointed out that this modern economic system provides new and promising incentives and opportunities for investment and partnership with various global markets, particularly African companies.

In his meeting with Dr. Chilichi Kapweboy, Secretary-General of the Common Market for Eastern and Southern Africa (COMESA), Al Zeyoudi pointed to the opportunities available to increase the current volume of trade exchange between the UAE and the 21 African member states of COMESA through greater cooperation in areas such as logistics and technology. advanced.

Thani Al Zeyoudi, in his meeting with H.E. Ntabaze Harriet, Minister of State for Trade of the Republic of Uganda, focused on investment opportunities in the agriculture, minerals and retail sectors. The two sides discussed the possibility of investing in irrigation systems and agricultural technology that can enhance the production of major crops such as coffee, cocoa, tea, cotton and flowers.

In a related context, the renewable energy sector, specifically green hydrogen, dominated the most prominent discussions that took place in His Excellency Al Zeyoudi’s meeting with His Excellency Al Naha bint Hamdi Ould Meknes, Minister of Trade, Industry, Handicraft and Tourism in Mauritania, and His Excellency Lucia Ibombo, Minister of Industry and Trade in Namibia, Both ministers highlighted ongoing green hydrogen projects in their respective countries, as Mauritania hopes to secure $40 billion in foreign direct investment to develop two production sites.

His Excellency Al Zeyoudi also held constructive talks with His Excellency Sekai Nzenza, Minister of Industry and Trade of Zimbabwe, His Excellency Carlos Alberto Fortes Mesquita, Minister of Industry and Trade of Mozambique, His Excellency Mawin Diggs, Minister of Trade and Industry of Liberia, and His Excellency Thabiso Paul, Minister of Trade and Industry of Lesotho H.E Edward Hinga Sande, Minister of Trade and Industry of Sierra Leone, H.E. Nadir Nigel Hamid Hassan, Minister of Finance, Economic Planning and Trade of Seychelles, David Osiani, Secretary General of the Ministry of Manufacturing, Trade and Enterprise Development of Kenya, and Adamasu Tadesse, President of the Kenya Trade and Development Bank.

His Excellency Dr. Thani Al Zeyoudi stressed that Africa is one of the world’s most attractive markets for foreign direct investment, due to its huge investment opportunities in vital and strategic important sectors for the UAE, such as renewable energy, agriculture and logistics services.

His Excellency added: The UAE is seeking to consolidate economic, commercial and investment cooperation with the continent of Africa, especially that there are common visions between the two sides to achieve sustainable development through projects that address the future such as green hydrogen, renewable energy and the dissemination of agricultural technology solutions, which was focused on during joint meetings with ministers and senior officials. officials.

His Excellency Al Zeyoudi said that the UAE continues to implement its ambitious plans to consolidate its position as a major global gateway for the flow of trade and investments at the regional and global levels, noting that the UAE provides promising opportunities for exporters from African countries as it provides access to new markets, relying on its advanced infrastructure that Connecting the country through ports and airports to more than 400 cities around the world, as well as a legislative and regulatory environment conducive to business and investment.

Al Zeyoudi expressed his aspiration to continue meetings and discussions with ministers and senior officials from African countries to bring trade and investment relations between the UAE and African countries to new heights of growth and prosperity.

The series of meetings held by His Excellency Thani Al Zeyoudi with ministers and senior officials from the continent of Africa comes as part of the efforts to expand the UAE’s trade relations with the world, in implementation of the announced plans under the umbrella of “Fifty Projects” to expand the horizons of the UAE’s economic partnerships with influential global markets, as part of its ambitious strategy for the next fifty years. To build a knowledge-based, innovative, and more dynamic and competitive future economy.

In the past weeks, it was announced that talks had been launched to reach a comprehensive economic partnership agreement between the UAE and Indonesia and India, and on Sunday, a joint statement of intent was announced between the UAE and South Korea regarding a comprehensive economic partnership agreement between the two countries.

 
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