UAE aims to build strong trade, economic relations with Africa
Dubai Week in Africa 2021 Virtual Expo focused on developing stronger and broader trade relations between the UAE and emerging African markets
Africa is the destination for future investments and a region in which Islamic finance could and indeed should thrive, Omar Khan, Director of International Offices, Dubai Chamber of Commerce and Industry (DCCI) said during the Dubai Week in Africa 2021 Virtual Expo.
The virtual event, organised by the UAE Trade Centre, aimed to build resilient trade relations between the UAE and Kenya by hosting inspiring panel discussions on vibrant business segments like export and trade, free zone and investment, e-commerce and Islamic economy.
During the panel session, titled Halal Food Trading and Positioning in International Market, Khan described the event as an ideal plaform for open and constructive dialogue on where businesses in Dubai and Africa can build bridges of cooperation that create mutual benefits and economic growth.
“Islamic economy remains a key area of focus for Dubai Chamber’s representative offices in Africa that are actively identifying new business opportunities for our members. Our activities on the continent are consistent with the efforts of Dubai in the consolidation of the emirate’s status as a global capital of Islamic economy, while we see this market as a high-potential avenue for driving Dubai-africa economic partnerships in the near future,” said Khan.
Dubai’s ongoing efforts to enhance its position as a gateway to African markets has led to an increase in food trade between the two sides in recent years, Khan explained, adding that the UAE is one of Africa’s top export markets for fruits, vegetables and other agricultural products.
Khan noted that Dubai’s non-oil trade with Africa has surged by nearly 42 per cent over the 2014-2019 period, and the number of African companies registering with Dubai Chamber has grown to exceed 17,000 today, adding that Dubai’s non-oil trade with East Africa amounted to $12.5 billion in 2019.
In addition, he encouraged African companies to participate in the Gulfood 2021 and Expo 2020 Dubai, as they provide an ideal plaform for these businesses to boost their global profile, explore new growth opportunities and build cross-border partnerships.
The panel session was also joined by Johnson Weru, Principal Secretary, Ministry of Trade and Industry in Kenya; Saleh Lootah, Chairman, Food & Beverage Manufacturing group; Amina Ahmed Mohamed, CEO, Emirates International Accreditation Centre (EIAC); and Brenda Denousse, General Manger, Brookside Dairy Ltd.
Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
Dubai Chamber of Commerce and Industry provides an integrated system of smart and electronic services that cover all the requirements of the business community, enabling businesses to complete all their transactions remotely easily, easily and according to the highest international standards. The Chamber is one of the pioneer provider of smart services, with smart transformation of 98% of its core services, which can be accessed using the smart application of the Chamber or by visiting the website.
Dubai Chamber recently hosted the Sustainability Network Achievements Ceremony to acknowledge the commendable work done by its members in implementing sustainable and responsible practices and solutions in response to new challenges created by Covid-19.
Last year, 18 new companies joined the Network, bringing the membership to 69. Launched in 2010, as a plaform for the business community to identify and share expertise on CSR and sustainability challenges, the Network has initiated many initiatives to foster the adoption of sustainable practices among the local business community.
The ceremony was atended by over 100 participants, including Belaid Retab, Chief Economist and Senior Director, Economic Research & Sustainable Business Development, Dubai Chamber of Commerce & Industry, members of the Sustainability Network, business leaders, experts and decision-makers in the field of sustainability.
Among members joining as speakers were: Yasmine Berbir, General Business Manager, Nestle; Kiran Kumar, Country HSE Manager,
ABB; and Vennie Cabantug, HR Manager, Serco Group who shared valuable insights on their respective companies’ experiences with the Dubai Chamber Sustainability Network. The speakers urged members and the wider business community in Dubai to proactively participate in its initiatives.
Addressing the honourees, Dr. Retab congratulated the members for their commitment and success in adopting and enforcing responsible business practices during unprecedented times, and noted the recognised companies serve as a leading example for the rest of the business community.