Connect with us

Economy

Dubai’s non-oil trade with Africa to exceed AED1trn by end of 2019 -Chamber Chairman

Published

on

 

Oil

By: Edwin Nwachukwu

Dubai (UAE) Nov. 19, 2019  Dubai’s non-oil trade with Africa will exceed Dhs1 trillion for the period extending from 2011 until the end of 2019, the Chairman of Dubai Chamber, Mr Majid Al Ghurair has said,

Al Ghurair made this known while declaring open the 5th edition of the Global Business Forum on Africa (GBF Africa) which opened on Monday in Dubai.

Nigeria News Agency reports that the forum which  is organised by Dubai Chamber of Commerce and Industry (Dubai Chamber) under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and the Ruler of Dubai, end on Tuesday.

Al Ghurair highlighted the long-established UAE-African relations in all fields, and Dubai’s status as Africa’s gateway to new markets building on its strong presence on the global economy map and its role in advancing international trade.

He said that over the course of its five previous editions, GBF Africa had become a leading Platform for expanding UAE-Africa economic cooperation and forging partnerships across different markets.

”The African continent is a key partner in Dubai’s plans to diversify its economy.

”With the support of Sheikh Mohammed Bin Rashid Al Maktoum, the forum has seen considerable growth in terms of significance and number of participants, bringing together heads of state, policymakers and business leaders to identify exciting business prospects emerging across the continent.

”The African market is a market of strategic importance to Dubai and a key focus of Dubai Chamber’s expansion strategy and we are closely monitoring developments and the business climate in Africa to identify growth opportunities available for our members,” Al Ghurair added.

He, however, underlined the huge potential to boost UAE-Africa trade and investment flows following the launch of the African Continental Free Trade Area earlier in the year.

Al Ghurair also asserted that Dubai was well-equipped to support Africa’s next phase of growth and development, especially as the emirate offers valuable expertise in several key sectors, including logistics services, infrastructure, retail, tourism and finance.

“Held under the theme ‘Scale-Up Africa’, GBF Africa 2019 is among the world’s largest events focusing on Africa’s economic potential, highlighting business and investment potential and opportunities on the continent.

“Africa’s changing economic landscape is creating new business opportunities,” he said.

Participants at the event included George Weah, President of Liberia; Danny Faure, President of Seychelles; Emmerson Mnangagwa, President of Zimbabwe and Carlos Agostinho do Rosario, Prime Minister of Mozambique.

Others are Ruhakana Ruganda, Prime Minister of Uganda; Reem Al Hashimy, Minister of State for International Cooperation and Director-General, Expo 2020 Dubai; Majid Saif Al Ghurair, Chairman of Dubai Chamber; Hamad Buamim, President & CEO of Dubai Chamber and Dr Raja Easa Al Gurg, President of Dubai Business Women Council, among other prominent speakers.

edited by Sadiya Hamza

 

 

Edwin Nwachukwu: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

German man jailed in Singapore for being in possession of child pornography Taraba NLC Chairman is dead 2 men in court for allegedly accusing doctor of selling fake medication  Commissioner urges  youth to inculcate attitude of self-reliance FRSC taskforce to ensure Coronavirus protocols compliance in Edo Iran’s Rowhani expresses hope for 2015 nuclear deal City to open probe into allegations of sexual misconduct by late Seoul mayor News Analysis: Believing the Reality of Novel Coronavirus in Nigeria Alleged homicide: Court remands farmer pending legal advice Residents of Kaanem in Makurdi appeal for governments’ intervention to end flooding Kwara records 21 new Coronavirus cases, discharges 1 China says those who see China as hostile are wrong Italy calls on EU to make decision on recovery plan in July China to sanction United States in retaliation for legislation on Hong Kong Sachet water, fruits hawkers decry low patronage in Enugu 167 Macron lawmakers defend interior minister facing rape complaint Coronavirus: Bayelsa sends average of 50 samples daily for testing- Health Director My husband steals my money, woman seeking divorce tells court Anambra generates N507m from post primary school tuition fee Greece lifts ban on flights from Britain, Sweden next Apple wins fight against $15bn EU tax order Court adjourns suit seeking Uzodinma’s sack until July 20 Google to invest about $4.5bn in India’s Jio Platforms Oyo Govt. partners NiDCOM on diaspora engagements Coronavirus: Expert seeks tax holiday for insurance firms  UNDP provides 1,700 tablet computers to Cambodia for social protection improvement FEC: Ministries of Education, Humanitarian, Finance, others make presentations UN envoy calls for citizen-centered approach in fight against corruption DRC gives mines coy 1 month to end Coronavirus restrictions Biosafety agency inaugurates committee to draft national biosecurity policy Egypt, Sudan, Ethiopia deadlocked on Nile dam in new talks Detectives hunt for killer of dismembered Gokaya CEO Pakistan reopens border to facilitate Afghan transit trade Indian pharma company Zydus begins human trials for Coronavirus vaccine Kaduna Govt to upgrade ICT infrastructure in tertiary institutions -Commissioner Stakeholders call for synergy in disaster management, control PDP must avoid mistakes that brought APC to power in Plateau – Chieftain warns Ongoing constable recruitment exercise free -Police Osun records 18 new Coronavirus cases, discharges 13 Gov. Ayade’s aide, council chairman collaborate against cultism in C/River Trump asked about black killings by police, points to white deaths Diversity Visa lottery winners sue Trump for suspending immigration NCDC records 463 new cases of Coronavirus, total rises to 33,616 NAF 1st female combat helicopter pilot dies in road accident Manchester City aren’t the only big spenders  —- Guardiola Wigan thrash struggling Hull 8-0, West Brom draw with Fulham Atalanta whip Brescia 6-2 to go second in Serie A No roars as Tiger makes return to sounds of silence Chelsea win to boost UEFA Champions League chances 7 persons suspected to operate illegal employment agencies arrested