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UAE and South Africa to improve trade and investment ties

The Ajman Chamber of Commerce and Industry (ACCI) has received a delegation from the South African Consulate in Dubai to discuss ways to enhance economic cooperation, to open up new investment skills between the two sides and to highlight investment opportunities in a way that increases intra-trade volume. Salem Al Suwaidi, Director-General of the Ajman Chamber, received a delegation from Mogobo David Magabe, Consul-General of the Republic of South Africa in Dubai and the Northern Emirates, and Mpho Mminele, Consul for Political Affairs. Among the participants were Mohammad Ali Al Janahi-Executive Director of the Division of Promotion and Investment, Marwan Hareb Al-Aryani, Director of the Department of Promotion and International Relations, and Sheik Abdulaziz bin Hamdan Al Nuaimi, Department of Economic Development, Ajman.

During the meeting, Salem Al Suwaidi stressed the importance of the visit and its role in fostering cooperation between Ajman and South Africa and opening up channels of cooperation and collaboration between merchants and businessmen. He also reiterated the diversity of components and the investment opportunities available to both parties.

The visiting delegation was also briefed on the major sectors and investment prospects in Ajman's emirate and the efforts of government institutions to provide a competitive market climate that will keep pace with investors and businessmen's aspirations. In addition, the opportunities in Al Zora were highlighted in the entertainment, tourism and real estate sectors, and other fields. Salem Al Suwaidi stressed that efforts are being made by the Chamber to enhance its external cooperation with all countries, with the aim of opening up new markets and activating direct channels of communication between Ajman and other businessmen. He also pointed to intensifying communication and cooperation with the African countries to take advantage of the promising investment opportunities that feed into serving all the parties.

Statistics indicate that the volume of trade between the UAE and South Africa in 2019 amounted to 14 billion dhs, while the size of trade between Ajman and South Africa confirms the possibility of increasing cooperation in all sectors in the future, Al Suwaidi said. He further stressed the importance of continuing contact between the two countries, in the presence of businessmen and investors in Ajman and South Africa, to hold joint meetings and events through visual communication networks.

On his part, the Consul General of the Republic of South Africa, Mogobo David Magabe, thanked the Ajman Chamber on the warm welcome, stressing the readiness of his country to beef up cooperation with the UAE and benefit from the investment capabilities of both countries. He further briefed the attendees on the significant opportunities available in various sectors such as agriculture, mining, manufacturing, infrastructure and others in South Africa.

Salem Al Suwaidi and Mogobo David Magabe exchanged gifts and memorial shields at the end of the meeting, stressing the importance of building future partnerships that would help boost economic growth between both parties.

Source :
Posted on :8/18/2020