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Non-oil trade on track to exceed USD 272 billion between Dubai and Africa

The non-oil trade between Dubai and Africa will reach USD 272 million (AED 1 trillion) from 2011 until the end of 2019, told by Chairman of Dubai Chamber, His Excellency Majid Saif Al Ghurair. The trade between these countries already reaches USD 252 million (AED 926 billion) from 2011 to 2018.

This announcement made was during the opening speech of Al Ghurair at the fifth Global Business Forum Africa (GBF Africa) in Dubai, emphasizing the African continent as a key partner in the plan of diversifying Dubai’s economy.

Al Ghurair highlighted the long-established relationship between Africa and the UAE and stated Dubai’s role as a gateway to connect the international market for the African economy and advancing its trade.

He also gave credit to Global Business Forum (GBF) Africa as a leading platform to strengthen the partnership of these countries in different markets and, thanked H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai for his support in the success of this forum.

The potential of boosting the Africa- UAE trade and investment has increased due to the launch of the African Continental Free Trade Area (AfCFTA) earlier this year.

Al Ghurair said that Dubai is well equipped and ready to support the next phase of Africa’s growth and development with its expertise in logistics, retail, infrastructure, finance, tourism, and many sectors.

Source : Bizmart
Posted on :12/30/2019