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Trade and investment in African markets are growing in the eyes of the UAE

Trade and investment are rising in the eyes of the UAE on African markets. Africa is rapidly emerging as one of the most important markets in the United Arab Emirates. If the world steps closer to creating a competitive economy, Africa 's position as the most promising market in the new millennium can never be overlooked. The United Arab Emirates has been swift to realise the enormous promise of the developing markets in Africa and is working diligently to reach newer markets on the African continent.

The Vice President and Prime Minister of the UAE and the King of Dubai have described Africa as one of the most promising potential customers for Dubai in the coming years. In recent years, trade between the United Arab Emirates and a number of African countries has been a steady stream of Featured Exporters to Africa.

Tanzania has recently emerged as a significant and noteworthy trading partner for the UAE. Trade between Tanzania and the UAE has greatly improved by all standards. Kenya, also referred to as the Gateway to East Africa, has always been an important trading partner for the UAE in the Sub-Sharan region. Trade between Kenya and the UAE has increased rapidly, according to previous data published by the Ministry of Finance of the UAE.

Dubai has some 30 construction projects scattered across Africa – including maritime ports in Djibouti, Algeria, Dakar (Senegal) and Maputo (Mozambique); nature parks in Rwanda and South Africa – as well as a hotel project in the Comoros.

The UAE is one of the leading sources of foreign direct investment in Africa. The Government of Dubai has successfully collaborated with several African governments on main infrastructure, telecommunications and tourism ventures.

Source : Bizmart
Posted on :10/14/2020