Africa seeks new trade partners

Dubai - Africa Global Business Forum will see the participation of more than 40 African, UAE and Arab leaders.

The third Africa Global Business Forum (AGBF) will explore trade and investment opportunities. Held under the theme 'New Drivers, New Partners', the event will start in Dubai on Tuesday.
Organised by the Dubai Chamber of Commerce and Industry, the event will see the participation of more than 40 African, UAE and Arab leaders, including heads of states, prime ministers and chairmen, as well as leading figures from banks and sovereign funds.
The welcome address will be delivered by Majid Saif Al Ghurair, chairman, Dubai Chamber. The event will be attended by Sultan bin Saeed Al Mansouri, Minister of Economy; and Mohammed Al Shaibani, executive director and chief executive officer (CEO), Investment Corporation of Dubai.
Hamad Buamim, president and CEO of Dubai Chamber; Sultan Ahmed bin Sulayem, chairman, DP World; and Adnan Chilwan, group CEO, Dubai Islamic Bank, will speak on day one of the forum.
The first session will focus on Africa's potential to accelerate to double digit growth and overcome the challenges of poverty. This will be followed by a session on 'The Infrastructure of Trade'. The third session will address fellow leaders on the necessity for Africa's continued growth in order to bring widespread prosperity.
During the two-day event, further subjects will be explored, including the future for Africa with free trade agreements in place, pan-African free trade zones and intra-regional trade. The role of natural resources in driving the economy and the impact of low oil prices and economic growth will also be covered.
Day one will conclude by assessing new sources of funding, including pension funds, sukuks and Islamic finance.
The second and final day will open with a discussion on the advancement of science. As the African population is expected to double over the next 35 years, the continent will need innovative new approaches to tackle everything, from growth to education and health.
With digital technology transforming mass market business models, African nations are unlikely to be able to take the same path that most higher income countries have opted for, leveraging cheap labour and competitive exports before climbing up the value chain.
Sessions will focus on intra-African connections and the role of the African aviation sector. where Ethiopian Airlines will be showcased.
The forum will also cover education, in particular the emergence of effective educational initiatives and institutions, ranging from new affordable school models to coaching in leadership and entrepreneurship.
- abdulbasit@khaleejtimes.com