"Sharjah and Democratic Congo Business Forum" Explores prospects for economic cooperation and building sustainable partnerships
SHARJAH, 21st October, 2017 (WAM) – Today, the Sharjah Chamber of Commerce and Industry organized the “Business Forum between Sharjah and the Democratic Republic of the Congo”, with the aim of contributing to strengthening established bilateral relations and exploring new horizons for economic cooperation, in light of the remarkable growth of economic relations, as the UAE is the first trading partner of the Republic of the Congo in the Arab world.
The forum, which was held at the Chamber’s headquarters, aims to build sustainable partnerships that contribute to the growth of the volume of bilateral trade and mutual investments, the value of which (bilateral non-oil trade) reached $3.1 billion in 2024, achieving a growth of 4.2% compared to 2023, while the value of the UAE’s non-oil exports to Congo reached $86 million.
The forum activities were attended by His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, Her Excellency Marie Ndeka Obombo, Ambassador of the Democratic Republic of the Congo to the UAE, Her Excellency Aisha Mohammed Saeed Al Mulla, Chairperson of the Emirates Businesswomen Council, His Excellency Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, His Excellency Mohammed Ahmed Amin Al Awadhi, Director-General of the Chamber, His Excellency Ahmed Obaid Ibrahim, Director-General of the Umm Al Quwain Chamber of Commerce and Industry, and Rachel Bongo Luamba, Director General of the National Investment Promotion Agency of Congo, along with representatives of more than 100 companies from the Democratic Republic of the Congo specializing in different economic sectors and representatives of Emirati companies.
The forum discussed ways to enhance trade and investment ties in vital sectors of common interest, most notably energy, mining, agriculture, logistics and infrastructure, in light of the remarkable growth in economic relations between the two countries.
His Excellency Abdullah Sultan Al Owais stressed that organizing the forum stems from the Sharjah Chamber’s keenness to support economic openness efforts and strengthen international partnerships, noting that the Comprehensive Economic Partnership Agreement between the two countries would contribute to enhancing bilateral trade to exceed $7.2 billion by 2032.
He pointed out that the Emirate of Sharjah, with its advanced business environment, advanced infrastructure and strategic location, represents an ideal gateway for Congolese investors to enter and expand in the region’s markets, stressing the Sharjah Chamber’s full readiness to provide all necessary support to strengthen cooperation ties between the business communities in Sharjah and Congo.
Her Excellency Ambassador Mary Ndeka Obombo praised the growing bilateral relations, stressing that the forum represents a vital platform for strengthening partnerships and transforming strategic visions into tangible projects.
She pointed out that her country’s delegation includes representatives from various sectors in an effort to explore new areas of cooperation, considering the forum a bridge for communication and exchange of experiences.
His Excellency Humaid Mohammed bin Salem stressed the importance of effective communication and expanding the scope of cooperation, noting that the UAE represents an attractive investment destination thanks to its location, infrastructure and stimulating legislation.
He stressed the importance of the meeting in enhancing cooperation in vital and promising sectors, especially energy, mining and health care, to achieve the common ambitions of the two friendly countries.
In a visual presentation entitled “A Glimpse of the Congo,” Rachel Bongo Luamba reviewed the economic components, investment incentives, and competitive advantages in the Democratic Republic of the Congo, and highlighted government facilities and legislative reforms to protect capital, and the enormous potential in the sectors of natural resources, mining, agriculture, energy, and infrastructure, calling on the Emirati business community to benefit from the climate. Supportive investment and accelerated growth.
The forum held two specialized sessions, the first of which discussed “public sector opportunities,” during which representatives of the National Agency for the Promotion of Investments in Congo, the mining sector, the National Electricity Company, and the Agency for the Development and Promotion of the Great Inga Project in the field of hydroelectric power production spoke. It focused on investment incentives and partnership mechanisms between the public and private sectors, while the second session addressed “private sector visions” with the participation of the Union of Congolese Enterprises and the Mining Services Company. and engineering, and discussed the possibilities of direct partnership between Congolese private sector companies and their counterparts in Sharjah.
The forum concluded with a series of intensive bilateral meetings and business meetings that brought together representatives of companies and businessmen from both sides, where mechanisms for building effective partnerships and future projects were discussed, in a step that reflected the common keenness to move cooperation relations to broader horizons of economic integration based on common interests.
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