Wednesday 25 April 2018

Africa-Dubai integration, challenges in focus at summit

Dubai, August 11, 2014

The story of the rapid change and global integration of Africa and Dubai will be the focus of a summit in the emirate, with tangible insights into the two regions’ opportunities, challenges and synergies.

The second Africa Global Business Forum will take place on October 1 and 2 at Atlantis the Palm.

Aliko Dangote, Africa's richest man, whose business activities drive economic growth across the continent has confirmed his presence at the summit.

Organised by Dubai Chamber of Commerce and Industry under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, the forum will explore new business partnerships and opportunities arising between Africa and Dubai.

Dubai has become a major trading partner for the region as the emirate's non-oil trade with the continent increased by 141 per cent, up from Dh37.9 billion in 2008 to Dh91.3 billion ($25 billion) in 2013.

Hamad Buamim, president and CEO, Dubai Chamber, said: "The participation of prominent speakers from Africa reflects on the importance of the forum being held in Dubai. This will lead to enhanced bilateral relationship between the emirate and leading countries of the African continent.''

He further said that the participation of Aliko Dangote will enrich the discussion with his experience and ideas for the benefit of all the participants of this important forum.

According to a Dubai Chamber statistics, African companies operating in Dubai have seen a percentage growth of 171 per cent from the period from 2008 to mid-2014.

The sectors under which African companies operate in Dubai included trade (60 per cent); construction (14.8 per cent); logistics (8.2 per cent); real estate (8.1 per cent); manufacturing (2.5 per cent); agriculture (0.2 per cent); and tourism and hospitality (0.9 per cent).

At present there are 414 Nigerian companies registered with Dubai Chamber and operate in Dubai.

Supporting Dubai and Africa's trade and connectivity is Emirates airline serving 21 major African destinations in addition to four cargo destinations while flydubai serves six destinations across major African countries.

The forum is organised by the Dubai Chamber of Commerce and Industry with content developed by The Economist Events. Its title partner is Investment Corporation of Dubai (ICD), Julphar as strategic partner with Dubai Islamic Bank and Nakheel as gold sponsors; Dubai Investments as silver sponsor; and Standard Bank and ECOWAS as official partners. - TradeArabia News Service

Tags: Dubai | Africa | opportunities | Integration |

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