By Ebi Kesiena
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.
The 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 catalyze 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.
