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The UAE has the ability to more than quadruple its exports to African countries.


According to the research, the UAE's exports to African nations have increased significantly over the last decade, owing to expanded UAE-Africa commercial relations.


The UAE could double its exports to African countries with plastics, rubber, and sugar identified as the top products offering the most untapped potential estimated at USD 867.9 million, USD 457.9 million, and USD 291.7 million respectively, according to analysts.


It stated that the UAE's exports to African countries have increased significantly over the last decade, owing to expanded UAE-Africa trade connections, Dubai's continuous efforts to strengthen its position as a gateway to African markets, and improved economic circumstances throughout the continent.


According to the study, the UAE's exports of items such as electrical gadgets, machinery, and automobiles to the African continent have exceeded their export potential.


However, it was stated that the UAE is still establishing its 'hub status' for the majority of other product exports.


The study found that UAE exports to Egypt may possibly grow to USD 34 million, followed by Ethiopia (USD 26.6 million), Libya (USD 24.5 million), Angola (USD 23.6 million), and Senegal (USD 23.6 million) (USD 10.9 million).


The high-level meeting themed Scale-Up Africa, will bring together African and UAE heads of state, ministers, policymakers, notable business executives, industry experts, and entrepreneurs to interact, cooperate and explore new channels of economic collaboration.



Source : arabianbusiness.com
Posted on :8/27/2021