Africa assures UAE of stability and reforms


"We take political and social stability, good education and judicial system as fundamentals for encouraging investors," said the former Prime Minister of Guinea Conakry, Alhaj Lansana Kouyate.

On Monday, Kouyate delivered a keynote speech at the one-day African Business Forum (ABF) held at Burj Al Arab hotel in Dubai.

The meet, which stands for interactive business networking between the African and global business forum, was this year held under the theme "Towards Afro-Arab Economic Integration."

The United Arab Emirates Minister for Foreign Trade (MoFT), Lubna Al Qassimi, opened the meet through the representation of the Director General of MoFT, Abdullah A. Al Saleh.

The MoFT official, who hailed a "rising business relationship" between Africa and the UAE in particular, had pointed out two challenges that have to be addressed in order to sustain the investment trend.

"One of the challenges is in your neck, and that is to keep implementing political and economic reforms," he said at a forum organised by an international firm, TITLAS Events.

"The other challenge is on our side and that is to widen our approach as Arabs for the exploration of investment opportunities in Africa."

He said that the geographical proximity of the African continent "makes it convenient for trade with the UAE and the Arab world."

A score of diplomats from Africa and other countries, as well as representatives of virtually all of the world’s business councils, were among of over 200 participants in attendance.

The Nigerian envoy to the UAE, Al Hajji Bashir Yuguda said, "Despite the global economic meltdown, Africa’s trade with the UAE is increasing because of structures and policies that we have in place." He cited key developments where the UAE telecommunication company, Etisalat, has opened up in Nigeria, as well as the signing of a $ 16bn between his country and the Dubai World.


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