Africa is key to UAE's future

Sultan bin Saeed Al Mansouri said the forum is a good platform to exchange views on how to build joint investment projects.

Africa offers investment opportunities in various sectors and the UAE is keen to further strengthen its trade relations with the continent of 1.1 billion people, said Sultan bin Saeed Al Mansouri, Minister of Economy.
He was delivering the opening speech at the third Africa Global Business Forum (AGBF) in Dubai on Tuesday.
"In the UAE, we realise that the future of business is located most significantly in the continent of Africa. Investment opportunities abound in various sectors, especially in agriculture, infrastructure, mining, trade, logistics, tourism and financial services," the minister said.
He emphasised that Africa is key to the UAE's food security. "It is critical for us in terms of food security. We have looked around the world and feel the solution is in Africa because of its location and natural resources," Al Mansouri added.
The minister said one of the key reasons for Dubai's progress and dynamic role in strengthening UAE-African relations is the dominant presence and growth of Emirates airline that has helped open new markets for UAE's investments in Africa.
The number of visitors from Africa to Dubai is expected to reach 1.5 million by 2020.
DP World has also registered great success in the African markets, with a presence in a number of ports in the continent.
Talking about the two-day forum, Al Mansouri said the event is a dynamic platform for the exchange of views and experiences on how best to build joint investment projects between the UAE and African countries. The UAE in general and Dubai in particular prioritises co-operation with friendly countries in Africa in order to develop greater synergies and collaborative partnerships, he said.
"We believe that through such a framework of cooperation alone can identify available trade and investment opportunities towards accelerating trade exchange. We also consider it equally important to strengthen the re-export of African commodities and products through our ports to different parts of the world."
Today, there are thousands of African traders who use Dubai and the UAE as a gateway for transporting their goods to different parts of the world.
This is due to state-of-the-art logistics facilities in the UAE, such as modern airports, a network of advanced airline companies and sea ports as well as sophisticated telecommunication capabilities.
- abdulbasit@khaleejtimes.com