|
28 September 2014 - Accelerated pace of economic development puts Africa in focus at the 2014 Seatrade Middle East Maritime conference agenda; African excellence to be recognised in three categories at Seatrade awards
A long-established conduit for Africa-Asia trade development, operational challenges and new opportunities for the Gulf's maritime sector across the African continent will once again be a key focus at Seatrade Middle East Maritime conference, which takes place in Dubai from 28-30 October 2014.
The dedicated Africa ‘Power Hour' session, which will be held on day one of the three-day event, part of Dubai Maritime Week, will feature a panel of regional specialists and address a broad range of topics including logistics complexities and the potential of government partnerships, as well as pinpointing those markets primed for maritime growth and development and specific sector investment opportunities.
“According to an article published by the Emirates Centre for Strategic Studies and Research, the value of trade alone between the UAE and Africa was expected to reach more than US$50 billion last year, a 27% increase over the previous year. Africa's potential has even been highlighted as part of the Dubai Expo 2020 programme, describing it as a gateway to Africa,” said Emma Howell, Head of Marketing Middle East, Seatrade, organisers of Seatrade Middle East Maritime.
Africa has been the world's second-fastest growing region in economic terms over the past decade, growing at an average rate of 5.1%. Home to seven of the world's 10 fastest-growing economies, according to a McKinsey & Company report, accelerated growth in consumer spending is forecast to touch US$1.4 trillion by 2020.
“A base for multinationals doing business with Africa, the UAE is the maritime axis around which the extended trade relationship between Africa, Asia and new potential in the rapidly developing ‘South-South' economies revolves; and with government entities like the Dubai Chamber of Commerce putting the figure for GCC investment into Africa at US$61 billion per annum, trade volume forecasts are only set to grow as we head towards 2020 and beyond,” she added.
Dubai's DP World has significant Africa presence as owner and/or operator of five ports located in Algeria, Djibouti, Egypt, Mozambique and Senegal; and Dutch maritime giant APM Terminals relocated its Africa HQ from Cape Town to Dubai, recognising the benefits of combined dual regional oversight from the Middle East's maritime epicenter.
Sub-Saharan Africa is projected to see economic growth rise from 4.9% in 2013 to 5.5% this year, according to an IMF Q2 2014 report, which reflects the improved prospects of a large number of countries in the region, where oil exportation is being supported by large-scale investment into infrastructure and mining, as well as positive commodity-led export performance.
Drewry Shipping Consultants also reports strong growth prospects for container trade, particularly in North Africa, and new potential for operators on the South and East coasts where PPP models are being touted by countries such as Kenya and South Africa. Senegal, Nigeria and Angola are also mooted as destinations to watch with port utilisation in the region predicted to grow from 70 to 80% over the next 10 years as consumer growth escalates, especially in West Africa, and as global operators develop their operations and boost efficiency levels.
To recognise the growing value of this vast continent, with all its economic diversity and emerging market opportunities, Seatrade has launched three new region-specific awards as part of its maritime awards programme, with the 2014 winners to be revealed at a gala celebration on the eve of the event.
“The trio of awards in the new Africa category will recognise the contributions of individuals and organisations at the forefront of the continent's engagement with the industry, as we continue to provide a platform to promote achievement and innovation” said Howell.
Confirmed participants for the Power Hour: Africa Focus include Jesper Kjaedegaard, Partner, Mercator International LLC; Carsten Gierga, Managing Director, EMA Marine GmbH; Ian Hugo, Regional Managing Director Middle East & Indian Subcontinent, Smit Lamnalco; Hans-Ole Madsen, Senior Vice President, ICTSI, Madagascar and Capt Solomon Abiodun Omoteso, Marine Consultant, African Maritime Consultants Nigeria Limited.
Seatrade Middle East Maritime is in its 7th edition and recognised as the maritime meeting place in the Middle East. More than 7,000 participants from 67 countries are expected to attend the 2014 on conference and exhibition. SMEM 2012 welcomed 7,065 attendees, 242 exhibiting companies from 33 countries and covered exhibition floor space totalling 4,338 square metres - a 7% increase over 2010.
| 
RSS Feed 
