Discussed ways to enhance trade and investment
Sharjah, 27 December,2017: HE Khalid bin Butti Al Hajri, Director General of Sharjah Chamber of Commerce and Industry, Magobo David Magabe, Consul-General of South Africa in Dubai, discussed ways of developing joint relations between the Chamber and the consulate to strengthen areas of economic cooperation between both countries.
The meeting was also attended by Omar Ali Saleh, Director of the Department of International Relations at the Chamber. He discussed the development of trade relations and mutual investment between Sharjah and South Africa to further push them towards prosperity and serving the interests of business communities from both sides.
HE Khalid bin Butti Al Hajri praised the growing economic relations between the UAE and South Africa, which form a solid foundation for further efforts towards developing cooperation. He also expressed the eagerness of Sharjah Chamber to improve trade and investment relations between Sharjah and South Africa, as well as expanding cooperation in all sectors and investment fields available.
Khalid bin Butti Al Hajri urged the South African Consul-General to encourage the business community in his country to invest in Sharjah, and to benefit from its economic, industrial and commercial assets as a leading regional centre. He stated that Sharjah's distinctive role is due to its adoption of the policy of economic diversification, as well as providing advanced logistics services, a leading banking system, encouraging legislation and advanced infrastructure.
He also called on the South African business community to take advantage of the facilities and advantages that are offered by Sharjah Chamber for foreign businesspeople wishing to invest in Sharjah. He reviewed the role of the Chamber and its efforts in serving the private sector in the Emirate, as well as the services provided by the Chamber and its affiliated institutions. He also stressed the eagerness of the chamber in targeting the promising markets in Africa, including the booming South African market, which lies within the framework of the Chamber's plan of action, and its relentless efforts to develop and promote the emirate's exports.
Magobo David Magabe, the Consul-General of South Africa, praised the progress made by Sharjah in various fields, which strengthened its vital economic role in the region. He also expressed his appreciation and gratitude to Sharjah Chamber for its role in developing economic relations with various African countries and his country in particular.
Magabe stressed the keenness of the South African consulate to maintain constant coordination and cooperation with the Sharjah Chamber in order to increase trade exchange and investment between both countries as well as stimulating the South African and UAE business communities to redouble their efforts to establish growing strategic partnerships that serve the interests of both sides.
During the meeting, both sides agreed to set up programs and events to be launched, as well as initiatives that serve the private sector in each side and identify the available investment opportunities. It was also agreed to encourage economic activities to participate at economic events and general and specialized exhibitions which is held in Sharjah or South Africa.
The volume of exports and re-exports of the UAE to South Africa amounted to 515.4 million dollars in 2016, while South Africa's exports to the UAE amounted to 1.49 billion dollars in the same year. The Trade exchange between the two countries is concentrated in the fields of diamonds, gold, tin cables, sugar, citrus, coal and others.