Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritius, Mozambique, Seychelles, Somalia, Tanzania, Uganda, Zambia, and Zimbabwe are among the East African nations with economies; eight of these have annual GDP growth rates above 5%, and all but two of them are outpacing current global GDP growth. As a result, the UAE, which sees prospects for infrastructure and investment, is paying close attention to them.
Following the UAE's independence, Abu Dhabi, the country's capital and the centre of its diplomatic connections with East Africa, has seen a growth in its political ties with the region in recent years. There has been extensive planning, with key documents, plans, visions, and strategies like the Economic Vision 2030 and the UAE's economic priorities being used to control the nation's overall foreign commerce.
The UAE economy grew by 7.6% in 2022, with a GDP of 599 billion USD. It works towards the UAE Centenary Plan for 2071 and aims to develop a diversified economy, coherent financial policy, open markets, develop adequate and adaptable infrastructure, and economic growth. It also works to strengthen its position as a hub for new exports, a talent hub, and for international capital.
The UAE is also spending heavily to advance the objectives of the 2050 energy strategy of the UAE, the 2030 economic vision, and the promotion of the position in renewable energy, as well as to expand ports, commercial infrastructures, port capacity, the growth of the non-oil sector, the knowledge-based economy, and tourism through 2050.
East Africa has had the continent's fastest growth in recent years, and the majority of its nations view the growth of international cooperation as a political and economic priority in order to entice UAE investment in fundamental industries.
Many of these countries view the UAE as a successful development example that focuses on building infrastructure and metropolitan areas. The region's top rankings in the human development index and the food security index, the development of a logistics superpower, the bolstering of the aviation and tourism industries, the competition between the powers, the fostering of economic cooperation, and the benefits of economic growth are all significant factors that Abu Dhabi pays attention to.
Additionally, in trade relations with East Africa, the UAE is boosting its share of global trade, diversifying its foreign partners, bolstering the national economy, developing new markets, and expanding access to international markets. Additionally, the UAE has emphasised promoting its status as a worldwide trade hub, a global hub for luring foreign money, and a diverse and stable economy in its economic diplomacy. Due to this, there is now significant regional interest in Africa.
Expansion of treaties, investments, and agreements, increased cooperation with regional organisations, and enhancement of the climate for investment and economic development are some of the significant activities taken by Abu Dhabi in this region. In this regard, the EU wants to work with the UAE to expand Africa's energy and infrastructure, and Israel and the UAE have another investment plan in the continent.
As part of its economic diplomacy in East African nations, the UAE has given help to Somalia, Djibouti, Eritrea, and Ethiopia. Growing energy and infrastructural requirements in East Africa present excellent potential. The UAE has become one of Africa's top investors during the past ten years.
After China, the EU, and the US, the UAE is currently the continent's fourth-largest investor. In 2018, the UAE funded more than 66 projects across 28 different African nations. Projects and seaports are being built by organisations like DP World and Abu Dhabi Ports in Tanzania, Djibouti, Mozambique, and Tanzania.