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.
The Ambassador, who also took the opportunity to promote the Expo 2020, said: “Dubai Expo 2020 is one of the most important achievements underway.”
The exhibition is an effective implementation of international cooperation policies and plays a central role in expanding and bolstering bilateral and multilateral relations. It is expected to host more than 200 participating countries.
It will contribute to strengthening cultural understanding and nurturing cultural dialogue between nations while changing the prevailing perceptions on the region.
“Dubai Expo 2020 will position the UAE as a cradle of emerging technology, an incubator for SMEs and entrepreneurs in the region” he added.
Mr Yousif Alzaabi, said “The UAE has also championed the values of tolerance and multiculturalism, rejecting discrimination and hatred by adopting nationwide programs in partnership with various local, regional and international bodies.
Today, the UAE forges ahead, a model of tolerance and acceptance, with more than 200 nationalities living in harmony, chasing it as their second home.
The law guarantees residents, similarly to nationals, the right to use the state’s healthcare, educational, cultural and entertainment facilities without any discrimination,” he added.
Second Lady Samira Bawumia was the special guest of honour, while Minister of Inner Cities and Zongo development, Mustapha Hamid, was the leader of the government delegation to the function.
Dr Hamid lauded the United Arab Emirates (UAE) for its technological advancement.
According to him, the UAE has inspired Ghana a lot with its technological advancement and the speed at which it has developed.
“We are inspired by the economic achievements the UAE has attained through its vision 2010 and other commendable developmental policies,” he said.
Dr Hamid said even though the relationship between Ghana and the UAE dates back to 1990s, there is a lot more both sides can do to boost their economies.
“A lot more needs to be done in order to achieve the desired boost, Ghana, therefore, wishes to invite the Dubai Chamber of Commerce and Industry to explore opportunities for investment. The government’s flagship program, 1district-1factory needs support to bring it into fruition” he said.
He encouraged the UAE business community to take advantage of the many opportunities created by the government to partner with Ghanaian companies.
Source: Ghana | Bismark Awusah | JoyBusiness