South Africa and Dubai hope to build more business ties during forum
|Published
South Africa and Dubai hope to further strengthen their ties and economic relations with the Dubai Chambers, hosting a business forum on November 1–2, 2023.
According to the Dubai Chambers, non-oil trade between SA and Dubai achieved year-on-year growth of 11.5% in 2022.
This translated to around R115 billion, or AED 22.3 billion.
The conference this year will focus on how to develop and accelerate the growth of trade and investments between the Middle East and South Africa.
South Africa's exports to the United Arab Emirates were R47.5 billion ($2.5 billion) in 2022, according to the United Nations Comtrade database on international trade.
The forum will “bring together key public and private sector stakeholders from across Africa and the world to forge partnerships and engage in strategic dealmaking,” according to a statement.
In 2022, South Africa exported pearls, precious stones, metals, and coins to the value of R5.6 billion ($1.29 billion).
“South Africa is the UAE’s top trading partner on the African continent and the second-largest FDI host in Sub-Saharan Africa”.
His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “This event will serve as a catalyst for change by creating an unrivalled platform for networking and deal-making that will empower business leaders from across the globe and reinforce Dubai's position at the heart of the global economy.”
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