UAE-South Africa trade flourishes amid efforts to expand investments

Wednesday, Apr 11, 2012

Gulf News

Abu Dhabi: Trade between South Africa and the UAE is flourishing and in 2011 it was valued at close to $2 billion (Dh7.3 billion), South Africas Ambassador to the UAE said yesterday.

The trade has been overwhelming. Last year, the value of bilateral trade surpassed the peak of 2008, Yacoob Abba Omar told Gulf News.

He said the UAE has become South Africas sixth-largest oil supplier.

We are primarily importing oil from the UAE while our exports to the country comprise mainly metal products, automotive parts, raw diamonds and gold, Omar added.

In November, South Africa-UAE diplomatic ties got a boost with the state visit of South African President Jacob Zuma to the UAE.

He met President His Highness Shaikh Khalifa Bin Zayed Al Nahyan and General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces.

Shaikh Khalifa and Zuma discussed ways to enhance cooperation and to achieve positive results.

In Dubai, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, also received Zuma. Shaikh Mohammad at the time stressed the importance of exchanging visits between economic, trade and investment delegations from both countries.

He said this helped the private and public sectors achieve a joint mechanism to activate cooperation between the UAE and South Africa.

Discussions

Separately, Omar said in light of South Africas Freedom Day on April 27, a round table discussion will be held at its embassy in Abu Dhabi today to discuss key moments in South Africas development since its first elections in 1994, highlighting its key achievements as a nation and discussing its Vision 2030 plan.

The talks will also touch upon the countrys main priorities for the coming years and its relationship with the UAE as a partner, which is home to a large number of South African expatriates.

The discussions will also include South Africas achievements to date, including its joining the Brics last year and what this has meant for South Africa.

The presentation on Vision 2030 will highlight improvements in employment, infrastructure, health, trade and investment with the pledge to make South Africa poverty free by 2030.

The impact of these changes and future focus areas in the relationship with the UAE will also be discussed.

By Himendra Mohan Kumar, Staff Reporter