The Ministry of Trade and Industry in South Africa: The UAE is a pivotal partner for the African continent
Johannesburg, June 8, 2017 – His Excellency Lester Boah, Executive Director of Investment Mobilization at the Ministry of Trade, Industry and Competition in South Africa, confirmed that the UAE is a pivotal strategic partner for the African continent, pointing out that Dubai has succeeded in consolidating its position as a global center for trade and investment, which opens wide opportunities for South African companies to expand and reach new markets.
In a statement to the Sons of the Emirates Agency (WAM), on the sidelines of the Dubai-South Africa Business Forum held in Johannesburg, His Excellency praised the trade mission organized by the Dubai Chamber of Commerce to South Africa, considering it an important step to advance economic relations between the two sides.
He stressed that the UAE is one of the most important economic and investment partners of South Africa, and relations between the two countries are witnessing continuous growth that reflects mutual trust and the common desire to build long-term strategic partnerships that serve the interests of both sides.
He said that South Africa views the UAE as a pivotal partner in promoting trade, investment and economic cooperation, not only at the bilateral level, but also as a global gateway linking the African continent to international markets.
His Excellency added that the economic relations between the two countries have witnessed increasing momentum in recent years thanks to mutual visits between government officials and business leaders, stressing that this movement reflects a joint commitment to raising the economic partnership to more advanced levels.
He pointed out that economic indicators reflect the growing strength of trade and investment relations between the two countries, explaining that South African exports to the UAE rose to about 2.68 billion US dollars, which reflects the expansion of access to UAE markets and the strengthening of bilateral trade between the two sides.
He added that the UAE is one of the most prominent international investors in South Africa, as Emirati investors launched 33 investment projects in the country with a total value of about 22.96 billion US dollars, which contributed to the creation of more than 5,500 job opportunities, which reflects the level of confidence that the South African market enjoys among the Emirati business community.
His Excellency explained that these investments constitute a successful model of economic partnership between the two countries, especially as they are concentrated in strategic sectors that include real estate, renewable energy, logistics, manufacturing, and financial services, which are vital sectors that support economic growth and promote sustainable development.
He stressed that South Africa has a diverse investment environment and great economic potential in many vital sectors that are of interest to Emirati investors, most notably manufacturing, energy, infrastructure, mining, and logistics services.
He said that the Ministry seeks to attract more Emirati investments to South Africa, especially in productive sectors that contribute to supporting economic growth and providing job opportunities, pointing out that there are promising opportunities for cooperation in the fields of advanced manufacturing, renewable energy, infrastructure development, logistics services, and advanced technology.
He added that the manufacturing sector represents one of the main priorities of the South African government during the current stage, as part of the efforts aimed at strengthening the national industrial base and increasing the added value of local products.
He stressed that the UAE possesses advanced global expertise in the fields of services, international trade, port management, and logistics services, which are areas that can form a strong basis for strategic partnerships with South Africa.
He added, “We believe that the integration between the industrial capabilities and resources that South Africa possesses, and the commercial and investment expertise that the UAE enjoys, can create a successful model of economic cooperation that will bring great benefits to both sides.”
His Excellency stated that the relationship between the two countries is not limited to trade and investment only, but extends to building strategic partnerships based on trust, mutual respect and common interests, looking forward to expanding the scope of this cooperation to include more sectors and economic opportunities in the coming years.
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