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PRETORIA, South Africa, 19th April, 2023 (WAM) — Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a delegation of UAE government officials and business leaders to South Africa to boost trade and investment opportunities between the two countries. China’s development in key areas such as logistics, food production, tourism, and energy.
During his visit, Dr Al Zeyoudi held a bilateral ministerial meeting with Ebrahim Patel, Minister of Trade, Industry and Competition, and Pravin Jamnadas Gordhan, Minister of Public Enterprises, where they discussed ways to strengthen cooperation, facilitate private sector dialogue, establish new joint ventures and schemes, and stimulate Mutually beneficial economic growth.
Dr Al Zeyoudi also met Barbara Creecy, Minister of Fisheries, Forestry and Environment, to discuss the challenges of climate change mitigation, private sector engagement, and the UAE’s hosting of COP28 in November and December, aimed at building an international consensus on these key issues.
Al Zeyoudi said the UAE is eager to forge partnerships with like-minded countries to boost growth, strengthen supply chains and open new avenues for investment.
He explained: “Amid global challenges, the UAE is taking bold steps to reimagine our economy, with trade at the core of our ambition to accelerate economic diversification, create long-term, sustainable growth and attract new forms of investment. We are also at the forefront of global trade At the forefront of a new era, championing multilateralism and pioneering the use of technology to improve efficiency and enhance access to the global trading system.
“As the UAE’s second-largest trading partner in Africa, accounting for 8% of the UAE’s total non-oil trade with the continent, South Africa has the potential to be an important partner in these efforts. I have seen first-hand the dynamism of the private sector and recognize the government’s desire to build A major industrial, energy, logistics and service center in sub-Saharan Africa.
“Our investment community understands the scale of the opportunity before us, and we are prepared to come together to support new industrial sectors, strengthen South-South trade corridors, and drive our bilateral trade well beyond the $6.5 billion we recorded in 2022”
The visit included meetings between private sector representatives from both countries, aimed at building and deepening the bilateral partnership. Dr Al Zeyoudi witnessed the signing of an agreement between UAE power company AMEA, South African energy buyer Green Co and Standard Bank to finance AMEA’s strategic investment in South Africa, which will help meet the country’s growing electricity demand.
Dr Al Zeyoudi also met representatives of leading South African companies operating in the fields of renewable energy, agriculture, food safety, medical devices, artificial intelligence, IT, power, mining and infrastructure. He highlighted the UAE’s unique business environment and the market access incentives offered by the NextGenFDI initiative, including fast-track registration and licensing, batch visa issuance, and ready access to banking facilities and real estate.
The UAE delegation then visited DP World’s operational offices in South Africa, where they heard about the group’s contribution to enhancing connectivity between Africa and the Gulf, which includes an extensive network of ports, dry ports, container terminals and economic zones.
In addition to Dr. Al Zeyoudi Al Zeyoudi, the UAE delegation included Mahash Saeed Al Hameli, UAE Ambassador to South Africa; Rashed Abdulkarim Al Blooshi, Deputy Minister of Economic Development, Abu Dhabi (joined); Essa Abdulla Al Ghurair, Chairman of Essa Al Ghurair Investment Company and representatives from leading UAE companies including Masdar, G42 Healthcare Group, Abu Dhabi National Oil Company (ADNOC), DP World, AMEA Power, Infinity Power and Kanoo Group, among others.
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