Johannesburg: The UAE is a pivotal strategic partner for Africa, Lester Bouah, Chief Director for Investment Mobilisation at South Africa's Department of Trade, Industry and Competition, emphasized, underscoring that Dubai's emergence as a global centre for trade and investment is unlocking new growth opportunities for South African businesses.
According to Emirates News Agency, Bouah, speaking on the sidelines of the Dubai-South Africa Business Forum in Johannesburg, praised the trade mission organised by Dubai Chambers to South Africa, noting that it signifies the increasing momentum in bilateral economic relations and the mutual commitment to strengthening partnerships. He emphasized that the UAE ranks among South Africa's top economic and investment partners, with relations continuing to grow in line with both countries' commitment to enhancing long-term strategic cooperation.
Bouah stated that South Africa considers the UAE a crucial partner in fostering trade, investment, and economic cooperation, not only bilaterally but also as a global gateway connecting Africa with international markets. He added that economic relations between the two nations have strengthened recently through reciprocal visits by government officials and business leaders, reflecting a shared commitment to advancing the economic partnership.
Bouah noted that trade and investment figures illustrate the ongoing strengthening of economic relations between the two countries, with South Africa's exports to the UAE reaching approximately US$2.68 billion, indicating expanding access to UAE markets and stronger bilateral trade flows. He further mentioned that the UAE is among the leading international investors in South Africa, with Emirati investors initiating 33 investment projects in the country valued at approximately $22.96 billion, creating over 5,500 jobs. This, he said, reflects the confidence the Emirati business community places in the South African market.
Bouah expressed that the department is keen on attracting further Emirati investments to South Africa, particularly in productive sectors that support economic growth and job creation. He highlighted promising opportunities for cooperation in advanced manufacturing, renewable energy, infrastructure development, logistics, and advanced technology. He concluded by noting that the relationship between the two countries extends beyond trade and investment to include strategic partnerships built on trust, mutual respect, and shared interests, expressing hope for expanded cooperation in additional sectors and economic opportunities in the future.