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Ghana, UAE trade volumes expected to hit $4 billion by end of 2018…

Trade volumes between Ghana and the United Arab Emirates (UAE) is expected to reach $4 billion by the end of 2018, the UAE Ambassador to Ghana has said.

Kalifa Yousif Alzaabi was speaking at the 47th UAE Commemoration Day in Accra.

Investments from the United Arab Emirates (UAE) to Ghana continue to increase hitting an all-time high in the history of both countries’ economic relations.

As at the end of November 2018, investments from the seven emirates that make up the UAE stood at over $3.5billion, which is higher than the $3billion recorded within the same period in 2017.

The investments by UAE-owned companies are spread within the various sectors of the Ghanaian economy.

Mr Yousif Alzaabi noted that trade relations between both countries continue to witness significant growth, including direct flights to and from Ghana and Dubai, through the Emirates Airlines; imports and exports of consumer goods; among others.

Donations made in 2017 by the UAE reached a total Official Development Aid (ODA) of $5.26billion, which went to over 54 per cent of developing and underdeveloped countries around the world.

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