Dubai government's $1.42 billion allocation in the budget for construction projects for the 2022-2024 period will have a positive impact on the wood and woodworking industry as demand for wood, timber and wood products will increase, said the president of the Organising Committee of the upcoming Dubai WoodShow.

An extensive large-scale trade exhibition (B2B), Dubai WoodShow will provide an ideal platform for suppliers, manufacturers, machinery and tools’ companies to present their products, innovative technologies and large-scale machinery to key figures in the African region.

The move is set to consolidate the emirate's pole position as a global economic centre, enhancing its competitiveness and meeting future aspirations in leading global economic recovery efforts, stated Dawood Al Shezawi.

The show will be an ideal opportunity for Dubai and African countries to seal beneficial deals that foster the wood and woodworking industry, he added.

"It is very crucial to the wood and woodworking industry as we approach the Dubai WoodShow 2022 where Dubai and Africa will once again come together in what is arguably the best platform of its kind after a hiatus caused by the pandemic," he noted.

With its untapped resources, infrastructure needs and surging population, Africa presents one of the major investment opportunities for international players.

"Of course, the continent is not a homogenous region. With a GDP of $3.4 trillion and a population of 1.3 billion across 54 countries, Africa presents different business and investment opportunities: from BRICS state South Africa, to oil powerhouses Angola and Nigeria, to the fast-growing Egypt, Ethiopia, Kenya, Morocco, and Zambia, the region offers huge potential for investors and corporations eager to expand their footprint," stated Al Shezawi.

Furthermore, the UAE plans to deepen its trade ties in fast-growing economies in Asia and Africa, and draw $150 billion in foreign investment from mainly older partners to reposition itself as a global hub for business and finance.

The country offers a wide variety of competitive advantages that make it an ideal destination in this regard, such as is strategic geographic position near African markets, world-class infrastructure, excellence logistics facilities, and a business-friendly regulatory environment.

African companies are attracted to Dubai because of its expertise in areas such as infrastructure and construction and having them on DWS will impact positively on the business side.

With such boom in the construction and building sector across the region, wood and woodworking machinery industry is bound to benefit and will increase the demand for sustainable products and technologies.

The UAE construction market was valued at $101.45 billion in 2020, and is now expected to reach a value of $133.53 billion by 2026, registering a CAGR of 4.69% over the period of 2021-2026.

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