UAE and South Africa explore bilateral trade, investment opportunities
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To increase potential for commerce and investment, the UAE and South Africa met on Wednesday. Additionally, the two countries are looking into ways to expand important industries including tourism, logistics, energy, and food production.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade, served as the leader of the delegation from the UAE to South
Africa. There were also representatives of top South African businesses engaged
in the production of renewable energy, information technology, medical
equipment, agriculture, electricity, artificial intelligence, food security,
mining, and infrastructure.
Ebrahim Patel, the minister of trade, industry, and
competition, and Pravin Jamnadas Gordhan, the minister of public enterprises,
met individually with Al Zeyoudi.
According to a report by Emirates News Agency - WAM,
during the talks, they discussed methods to improve cooperation, facilitate
private sector discussion, build creative joint ventures and programs, and
stimulate mutually beneficial economic growth.
Al Zeyoudi also spoke with Barbara Creecy, the
environment, forestry, and fisheries minister. The two discussed issues
relating to business sector involvement, climate mitigation problems, and the
UAE's hosting of COP28 in November and December of this year.
Al Zeyoudi stated that the nation is keen to cooperate with nations that share its values in order to promote growth, strengthen supply chains, and open up new avenues for investment.
The South African energy buyer Green Co, Standard Bank,
and the UAE electricity provider AMEA have all inked an agreement. This is
intended to pay for AMEA's investments in South Africa and is anticipated to
assist in supplying the growing demand for power in the country.
Al Zeyoudi emphasized the business climate provided by the
NextGenFDI project, which includes quick incorporation and licensing, mass visa
issuance, as well as easy access to banking services and real estate, as well
as the market access incentives offered by the UAE.
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