African markets are of crucial strategic importance to Dubai’s ambitions. This belief and determination sums up the core message presented in the opening statement delivered by H.E. Hamad Buamim, President and CEO of the Dubai Chamber of Commerce, on GBF Africa 2021.
“Dubai has adopted a new plan to boost its foreign trade to $544.5 billion as part of its 5 year Dubai International Trade Roadmap which is also establish new shipping and air routes to connect Dubai to 400+ cities”, Buamin explained.
He went on to share promising numbers pertaining to trade between the African continent and the UAE, which has reached US$50B in 2020, the highest amount recorded in the last decade, despite the many challenges presented by the covid-19 pandemic. He said that over 25 thousand African companies are now registered with Dubai Chamber.
Buamim believes that the recently implemented AfCFTA, along with customer-friendly legislation reforms, will boost and diversify African exports with not only the UAE but also the rest of the world, and to this effect Dubai Chamber has so far established offices in Ethiopia, Ghana, Mozambique and Kenya, in order to build bridges between UAE and African business communities, identifying promising investment opportunities in Africa and assisting African companies to enter Dubai and use it as a business hub.
Also read: Dubai GBF Africa: Investment flows into sub-Saharan Africa
