ID :
111686
Mon, 03/15/2010 - 15:48
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Shortlink :
https://oananews.org//node/111686
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Sheikha Lubna praises trade relations with Africa and Indian Ocean
Abu Dhabi, Mar 15, 2010 (WAM)- HH Sheikha Lubna Al Qasimi, Minister of Foreign Trade has praised trade relations with Africa and the Indian Ocean and vowed to further promote it considering it very important for UAE.
"Trade today with Africa and the Indian Ocean is very important to us and one we take it very seriously. That trade is growing very quickly, having expanded almost 3 fold over the past decade", she said while addressing a conference on Africa and the Indian Ocean organised by NYU in Abu Dhabi.
She said that the topic for your discussion this year, "Africa and the Indian Ocean" is a good and important one, as you know, the United Arab Emirates is a full member state of the Indian Rim Association, the 18 member group of nations bordering the Indian Ocean. The UAE and the Indian Ocean states have had trading relations spanning millennia.
"My ministry is engaged in trade missions to Africa as an important part of our trade development strategy. We hosted COMESA, in December. In April we are planning an important meeting with businessmen from South Africa, one of Africa's biggest economies. We are actively promoting improved trading relations between Africa and the UAE through our activities".
A source of strength and vitality in Africa is of course its very youthful and dynamic population. A large segment of population is under the age of 10 and around 60% is under the age of 20. The population of Africa which is currently close to 900 million is expected to double to close to 2 billion over the next 20 years. "My ministry will work with African governments in developing the trade opportunities in the areas of exports and imports. It will also be in the trade and Business to Business activities as well as capital investments", she pointed out.
On the investment side, there are many possible areas of collaboration between UAE and Africa, particularly in tourism infrastructure and facilities. There is great potential for development of the spectacular tourist attractions of many African nations - the beauty of Tanzania and its gem reserves; the wonders of South Africa, the culture of West Africa and the history of Egypt and North Africa. There have already been a large number of collaborations resulting in major investments in many parts of Africa, she said and added that "As you know the UAE has world class firms in the tourist facilities sector. We have quite a bit of human capital in such activities, and we have a history of investing in the Africa - hotels in Djibouti, complexes in Cape Town, and many others".
In the area of oil and gas, she said that we have noted the new oil discoveries in many African countries - especially in the West African basin in the Atlantic around the countries stretching from Ghana to Sierra Leone and also, to the east, in Uganda. Also there are established oil producing nations like Nigeria and Angola. Oil production is, of course, an area where we have good experience, and we will form partnerships with African nations in this sector.
There are also vast opportunities in the area of transport and logistics, and is quickly becoming the biggest sector in UAE besides oil and gas. "We have made major investments in Transport and Logistics sector to make it one of the best and most efficient in the world". The UAE investments in this sector in Africa and partnership with African firms will be mutually beneficial.
"We have a lot of human capital in the sector, and advances in the transport and logistics sector will help bring down export costs in African nations. This will also help bring down the costs of trade and will enable African nations to export goods to the UAE and for UAE firms to get access to markets in Africa. I have been associated with Dubai port - it is one of the largest ports in the world in terms of maritime commercial volumes. Our firms in this area are world leaders. This too is an area where we can explore opportunities for collaborations with Africa and the Indian Ocean nations", she said.
"Trade today with Africa and the Indian Ocean is very important to us and one we take it very seriously. That trade is growing very quickly, having expanded almost 3 fold over the past decade", she said while addressing a conference on Africa and the Indian Ocean organised by NYU in Abu Dhabi.
She said that the topic for your discussion this year, "Africa and the Indian Ocean" is a good and important one, as you know, the United Arab Emirates is a full member state of the Indian Rim Association, the 18 member group of nations bordering the Indian Ocean. The UAE and the Indian Ocean states have had trading relations spanning millennia.
"My ministry is engaged in trade missions to Africa as an important part of our trade development strategy. We hosted COMESA, in December. In April we are planning an important meeting with businessmen from South Africa, one of Africa's biggest economies. We are actively promoting improved trading relations between Africa and the UAE through our activities".
A source of strength and vitality in Africa is of course its very youthful and dynamic population. A large segment of population is under the age of 10 and around 60% is under the age of 20. The population of Africa which is currently close to 900 million is expected to double to close to 2 billion over the next 20 years. "My ministry will work with African governments in developing the trade opportunities in the areas of exports and imports. It will also be in the trade and Business to Business activities as well as capital investments", she pointed out.
On the investment side, there are many possible areas of collaboration between UAE and Africa, particularly in tourism infrastructure and facilities. There is great potential for development of the spectacular tourist attractions of many African nations - the beauty of Tanzania and its gem reserves; the wonders of South Africa, the culture of West Africa and the history of Egypt and North Africa. There have already been a large number of collaborations resulting in major investments in many parts of Africa, she said and added that "As you know the UAE has world class firms in the tourist facilities sector. We have quite a bit of human capital in such activities, and we have a history of investing in the Africa - hotels in Djibouti, complexes in Cape Town, and many others".
In the area of oil and gas, she said that we have noted the new oil discoveries in many African countries - especially in the West African basin in the Atlantic around the countries stretching from Ghana to Sierra Leone and also, to the east, in Uganda. Also there are established oil producing nations like Nigeria and Angola. Oil production is, of course, an area where we have good experience, and we will form partnerships with African nations in this sector.
There are also vast opportunities in the area of transport and logistics, and is quickly becoming the biggest sector in UAE besides oil and gas. "We have made major investments in Transport and Logistics sector to make it one of the best and most efficient in the world". The UAE investments in this sector in Africa and partnership with African firms will be mutually beneficial.
"We have a lot of human capital in the sector, and advances in the transport and logistics sector will help bring down export costs in African nations. This will also help bring down the costs of trade and will enable African nations to export goods to the UAE and for UAE firms to get access to markets in Africa. I have been associated with Dubai port - it is one of the largest ports in the world in terms of maritime commercial volumes. Our firms in this area are world leaders. This too is an area where we can explore opportunities for collaborations with Africa and the Indian Ocean nations", she said.
