UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi has led a
delegation of UAE government officials and business leaders to South Africa to begin communication on trade and investment opportunities between the two countries.
This collaboration
will seek to promote development in key sectors such as
logistics, food production, tourism and energy in both countries.
According
to Dr. Al Zeyoudi, the UAE is eager to build partnerships with like-minded
nations that can catalyse growth, strengthen supply chains and create new
pathways for investment.
“Amid global challenges, the UAE is taking
bold steps to reimagine our economy, and trade is central to our ambitions to
accelerate economic diversification, create long-term, sustainable growth and
attract new forms of investment. We are also at the forefront of a new era of
global trade, championing multilateralism and pioneering the use of technology
to drive new efficiencies and enhance access to the global trading system.
“As the UAE’s second-largest trade partner
in Africa, responsible for 8% of the UAE’s total non-oil trade with the
continent, South Africa has the potential to become an important partner in
these efforts. I have seen first-hand the dynamism of the private sector and
recognise the government’s desire to establish Sub-Saharan Africa’s principal
hub for industry, energy, logistics and services.
"Our investment community understands
the scale of the opportunity in front of us, and we are ready to work in unison
to support new industry sectors, strengthen south-south trade corridors and
push our bilateral trade well beyond the US$6.5 billion we recorded in 2022.” He explained.
Also, the
UAE team witnessed the signing of an agreement between
the UAE power company AMEA, South African energy buyer Green Co, and Standard
Bank to finance AMEA’s strategic investments into South Africa, which will help
meet the nation’s growing demand for electricity.
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