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United Arab Emirates : Dubai Chamber discusses bilateral cooperation with Equatorial Guinea
Publish Date : 25-Oct-2016
H.E. Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea, called upon Emirati investors to benefit from the various attractive investment opportunities offered by his country to overseas investors.
Lauding Dubais economic growth, H.E. Mbasogo expressed his desire to enhance bilateral ties with the emirates businesses while assuring them of all cooperation and facilities in entering the promising markets of his country which he said can bring the two countries closer together.
The President of the Republic of Equatorial Guinea invited Dubai Chamber and the emirates business community to participate in the 4th Africa Arab Summit being held in his country next month adding that the summit is an ideal platform for exchanging ideas and experiences and a solid ground to lay a stronger foundation for future economic cooperation between the two countries.
His words came during a meeting organised in honour of the Equatorial Guinea delegation by Dubai Chamber of Commerce and Industry at its head office on Sunday. The delegation was received by H.E. Majid Saif Al Ghurair, Chairman, H.E. Hamad Buamim, President and CEO, as well as a number of directors of Dubai Chamber.
Highlighting the importance of the meeting, H.E. Al Ghurair said that such meetings with the heads and decision-makers of African countries help create an ideal platform to discuss challenges and to exchange ideas on finding their solutions.
These meetings also lead to strengthening of bilateral economic relations while facilitating the entry of UAE investors to the African markets which today is a top priority of the business community of Dubai, he added.
H.E. Al Ghurair further stressed on the Chambers strategy of supporting the expansion and competitiveness of the emirates companies in emerging markets while promoting Dubai as a thriving global business hub.
He added that the Chamber has four international offices in Ethiopia, Ghana, Mozambique, and Kenya which are directly helping its objectives of strengthening the presence of Dubai businesses in Africa while contributing to the development process of the continent.
On his part, H.E. Hamad Buamim, President and CEO, Dubai Chamber, stressed on the importance of holding a dialogue and to cooperate to overcome the challenges faced by Emirati investors in Equatorial Guinea which he said is a new and untapped destination with growing sectors as UAE companies with their extensive expertise can contribute to the economic growth and development of the country.
H.E. Buamim pointed out that Dubais non-oil trade with Equatorial Guinea last year totalled AED 122.7 million, which according to him is not very substantial in light of the enormous potential offered by the two sides. He also emphasised on the Chambers efforts in promoting the investment opportunities available in Equatorial Guinea to its members and the emirates business community.
