Great Lakes Investment and Trade Conference discusses economic prospects of Africa

Organized by Arab Bank for Economic Development in Africa, in cooperation with Arab Authority for Agricultural Investment and Development

February 29, 2020. Dubai, United Arab Emirates: The Dubai Outreach Event for the Great Lakes Investment and Trade Conference (GLITC) is taking place today (Saturday, February 29, 2020) at The Address Boulevard in Dubai, to shed light on key trade and investment opportunities in Africa’s Great Lakes region. 

Organized by Arab Bank for Economic Development in Africa (BADEA), in cooperation with Arab Authority for Agricultural Investment and Development (AAAID), the event provides a platform for investors and private sector organizations in the UAE and the Middle East to explore areas where private sector investments can contribute to the economic development in the region.

Dr. Sidi Ould Tah, Director General at Arab Bank for Economic Development in Africa, said: “BADEA is committed to support the social and economic growth of Africa’s Great Lakes region. The event provides an important platform for investors and private sector entities in the UAE and the Middle East explore and to better understand the possible investment activities in the economies surrounding the Great Lakes, prior to the Great Lakes Investment and Trade Conference which will take place in March this year.”

H.E. Mohamed bin Obaid Al Mazrooei, Chairman of AAAID, said: “The Arab Authority for Agricultural Investment and Development supports its sister organization, the Arab Bank for Economic Development in Africa, to achieve sustainable economic development in the African Great Lakes countries covering several areas, including the development side, in relation to small producers and farmers, as they constitute the largest share in the field of agricultural and animal production and the agricultural sector in particular. In light of the resources that these countries have, they benefit from the corporation's companies, especially in the opening of new markets and benefiting the countries through the exchange of goods and other common benefits between them and the African Great Lakes countries. This helps pave the way for the development of these vital areas, which in turn, contributes to achieving global sustainable development goals, wherein the eradication of hunger is one of its main objectives.”

GLITC, which will be held on March 18 to 20, 2020 in Kigali, Rwanda, is a global conference dedicated to mobilizing private sector investment into the Great Lakes region, comprising Burundi, Democratic Republic of Congo, Rwanda, Tanzania, and Uganda. The conference, themed ‘Cross-Border Investment and Trade as Catalyst for Regional Integration’, will focus on promoting economic activities related to agriculture and logistics value chains, mining, energy and services, and tourism.

The event expects over 700 participants from the government and private sector, financial institutions, development organizations and key players in the international investment community.

GLITC is being organized by the Office of the UN Special Envoy for the Great Lakes region, the International Conference on the Great Lakes Region (ICGLR) and the Government of the Republic of Rwanda. It was convened by the signatory countries of the UN-led Peace, Security and Cooperation Framework Agreement as a follow up for action to the first Private Sector Investment Conference held in 2016 in Kinshasa, Democratic Republic of Congo.

The Great Lakes region is considered as one of the richest regions in Africa when it comes to untapped natural resources, which can be developed to bring about social and economic development in the region.

The Arab Authority for Agricultural Investment and Development (AAAID) was established in 1976 to promote Arab food security. The Authority has extensive experience in the field of investment and agricultural manufacturing and provides its investors with many advantages and privileges in all member countries. The Authority’s activities are based on agricultural investment in plant, livestock and related agricultural sectors. AAAID also contributes in the efforts to support sustainable agricultural development through income generation projects, advanced agricultural technology, scientific research services and loans.