Hamad Buamim, Director General of the Dubai Chamber of Commerce and Industry - Photo courtesy of YouTube
CAIRO – 2 November 2017: Egypt is Dubai’s top trade partner in Africa, with Dubai’s non petroleum trade with Egypt increasing by 95 percent in five years, to reach 15.9 billion Emirati Dirhams (AED) in 2016, up from AED 8.3 billion in 2011, Hamad Buamim, Director General of the Dubai Chamber of Commerce and Industry said Thursday.
Buamim said that this has led to Egypt becoming Dubai’s 22nd trade partner, adding that Egyptian companies in the chamber constitute 47.7 percent of the African companies registered in the chamber, with 8,350 Egyptian companies.
Buamim’s comments came on the sidelines of the Global Business Forum on Africa, organized by the Dubai Chamber from 1-2 November in Dubai, bringing together leading decision-makers on the global investment scene and prominent African stakeholders to discuss developing trade and investment relations with African countries.
The two-day event will examine the current economic outlook for the continent and explore prospects for its development, as well as investment opportunities and the potential for forging partnerships between African businesses and their UAE counterparts.
The event is the largest Africa-centric conference to be held outside of the continent, with attendees including four presidents of African countries, along with a long list of ministers, senior government officials, young African entrepreneurs, economic and industry experts.