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UAE's eyes on African Markets for Trade and Investments


Africa is rapidly emerging as one of the most significant markets for the United Arab Emirates.Africa can never be underestimated as the most favorable market of the new millennium. The United Arab Emirates has been swift to identify the immense potential in the emerging markets of Africa and is working very hard to infiltrate newer markets in Africa.

Africa is singled out as one of the most encouraging business partners for Dubai in the coming years. Trade between African countries namely; Angola, Kenya,Ethiopia, Nigeria, South Africa and Tanzania and the United Arab Emirates has been recording an unshakable Featured Exporters to Africa during the past few years.

Countries in Africa have been emerging as the new trade partners for the UAE. Nigeria, for example has become a significant destination for UAE’s exports and re-exports. Notably, UAE's trade with Nigeria recorded the largest growth among the six African countries mentioned above. Kenya, Tanzania and Uganda are also making swift strides to grow as one of the leading commercial center in East Africa.

The UAE particularly seeks to play a bigger role in developing several major sectors in African countries such as oil, gas, tourism, infrastructure, mining, energy, transport, logistics, ports, IT and mobile phones.

Africa can exploit the rise in oil prices over the world in the last few years and encourage Arab investments. Africa is an ocean of opportunities and without any doubt the market of tomorrow.

With Africa speculated to become one of the dominant markets in the following years many fresh initiatives are bound to further focus on the growing importance of the lucrative African markets. As Africa comes under focus, several nations like China, India and Brazil are already jostling for position to make the best of the several business and investments opportunities that Africa has to offer.


Source : Newzmart
Posted on :0/0/0000