UAE, Africa Bolsters Economic Ties

By Kester Kenn Klomegah

The United Arab Emirates has launched its 6th edition of Global Business Forum Africa (GBF Africa) that aims at scaling up and strengthening multifaceted business with Africa.

With its first-class Emirates airline, the airline network will facilitate the participation in the forum of African leaders and corporate business leaders.

Under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, GBF Africa is bringing the trade and investment community back together to explore bilateral trade opportunities between Dubai and Sub-Saharan Africa.

Global Business Forum Africa facilitates international revenue flows by engaging leading decision-makers on the global investment scene.

Influential stakeholders participate in a constructive dialogue at the highest level, focusing on key economic developments and investment opportunities emerging across the continent.

 This forum among other key objectives aims to build bridges between UAE and African business communities and explore untapped trade and investment potential.

It represents an unprecedented opportunity for businesses of all sizes, international organizations and government entities from across the world, to come together to foster a more diversified and resilient global economy, inspire a vibrant business environment and drive sustainable growth.

Besides Africa, it has the Global Business Forum ASEAN established as a platform for insightful dialogue between government and business leaders in the UAE and ASEAN by identifying opportunities for mutual growth. The Regional Comprehensive Economic Partnership is set to re-shape global connectivity and add $186 billion to global GDP by 2030.

It further launched in 2016, Global Business Forum Latin America that seeks to pave the way for long-lasting partnerships between business communities in the GCC, Latin America and the Caribbean (LAC). The forum explores existing trade synergies and bilateral business opportunities while strengthening Dubai’s position as a gateway for Latin American companies.

As expected, Heads of State, more than 30 Ministers, high-ranking Government officials and prominent influential business leaders from Africa have confirmed their participation in the sixth edition of the Global Business Forum Africa (GBF Africa), which takes place on October 13-14, 2021 at Expo 2020 Dubai.

Dubai Chamber is organizing GBF Africa 2021 in partnership with Expo 2020 Dubai under the theme “Transformation Through Trade” and the event will be held under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The organizers have listed top-level participants including H.E. Filipe Nyusi, President of Mozambique; H.E. Felix Tshisekedi, President of Congo; H.E. Dr C.G.D.N. Chiwenga, Vice President of Zimbabwe; the Chief Minister of Jersey; the Secretary-General of COMESA; more than 30 ministers and high-ranking African officials, including ministers from Ghana, Angola, Ethiopia, Uganda Zimbabwe and Liberia, Kenya, Botswana, Côte d’Ivoire, Mauritius, Mozambique, Namibia, Niger, Senegal, Seychelles, Congo and the Kingdom of Lesotho, as well as government officials from Rwanda and Kenya.

H.E. Reem Al Hashimy, UAE Minister of State for International Cooperation and Director-General of Expo 2020 Dubai, said: “Countries from across the world that are participating in Expo 2020 are eager to widen and deepen their ties with Africa, and GBF Africa will be a crucial forum where the continent can share its plans and achievements, seek investments and solutions to its challenges and forge new relationships across the globe.”

H.E. Hamad Buamim, President and CEO of Dubai Chamber, said: “The success that GBF Africa has had in attracting African presidents, ministers and influential leaders to join its high-level talks reflects the forum’s position as a leading global platform for exploring investment opportunities in the African continent. It reinforces the crucial role played by Dubai’s wise leadership in expanding the emirate’s trade links with emerging markets around the world.”

According to Buamim, the Dubai Chamber is keen to continue its efforts to promote building strategic partnerships with the key players in the African business ecosystem. The Chamber is also committed to encouraging and supporting local and national companies to invest in African markets and enhance sustainable economic growth and development.

Ambareen Musa, Founder and CEO of Souqual in the UAE said: “As we grow and scale up in the Middle East, this gives us a lot of exposure for potentially getting into Africa as a region.”

Through its network of international representative offices, trade missions and high-profile business forums, the Dubai Chamber of Commerce & Industry works to raise Dubai’s profile as a global trade and investment hub. The Chamber represents more than 260,000 companies, making it one of the world’s largest membership-based Chambers of Commerce.