UAE and Nigeria... promising economic prospects

H.E. Mohammed Thani Murshed Al Rumaithi, Chairman of the Federation of UAE Chambers of Commerce and Industry

We affirm the great importance that the UAE private sector attaches to the African continent in general and Nigeria in particular, which has become one of the fastest growing economies in the world over the past ten years, the UAE is the gateway for investors from the region to Africa, and that Africa is a destination for future investments, as investors from the UAE have formed an important element in the flow of foreign direct investments to the African continent during the past few years, which targeted consumer industries, infrastructures and services.

Nigeria is one of the five largest African markets for UAE exports, especially in the field of (plastic and rubber - ferrous metals - synthetic textiles - beauty products - fertilizers - boats - paper products - dairy products).

The launch of the countries of the African continent at the beginning of 2021 as a continental free trade zone, after a delay of several months due to the Coronavirus crisis, will positively affect the attraction of foreign investments in the future. It will contribute to strengthening the UAE's position as a transit bridge to Africa, a destination for services and a business station for companies investing in the continent, and open investment fields for Emirati and Gulf companies, the United Arab Emirates is always keen to ensure that its investments in world markets achieve an added value that benefits the interests of the two countries.