The two-day event in Dubai last year focused on the issues and prospects of doing business in Africa, with many corporations eyeing Africa as the next big investment frontier.

Several nations are striving to deepen their connections with Africa, including the United Arab Emirates. This may come as welcome news to some African leaders, who already see Dubai as a model for how to grow their own economy.

The UAE has positioned itself not just as a crucial gateway into Africa, but also as the continent's second-largest foreign investor behind China, resurrecting one of the world's oldest commercial lines.

Non-oil exports and re-exports from the UAE to Africa totaled roughly €18 billion in prior years. Many of them would have flown with DP World, which has offices in seven African nations. Africa accounts for 10% of the port giant's worldwide income, and it is increasing. However, there are other UAE companies operating across the continent.

Because of its experience in sectors such as infrastructure and construction, African firms are drawn to Dubai. There are over 21,000 of them operating throughout the Emirate, an increase of nearly a quarter in only two years.

While the UAE seeks to expand its commerce with Africa in general, there are also prospects in its own backyard.

'Imagine a zone of common market between countries on the African side of the Red Sea and the Gulf Corporation Council (GCC) side, led by the UAE. For example, in terms of geopolitical challenges, you now have a few flashpoints. When those challenges are handled, I believe there would be significant possibility and growth in the Red Sea region alone,' remarked Isaac Kwaku Fokuo.

This might help to further uncover the UAE's latent export potential in Africa.

Euronews met with Hamad Buamim, President and CEO of the Dubai Chamber of Commerce and Industry, who was in charge of the Global Business Forum on Africa, and he highlighted how Dubai is exploring new ways to collaborate with businesses on the continent.

'When you look at trade with the rest of the globe, perhaps in the last five years, it has been either flat or negative in many areas. But in Africa, it is constantly expanding, nearly doubling.'

'What we've been doing more (in Dubai) is partnering with someone like Carrefour and instead of exporting to Africa, establishing ourselves in key markets like Nairobi or even Tanzania.' They're looking into Ethiopia, which has a population of 100 million people, ten times that of the UAE. This is something we'd want to do more of.'