Dubai deepening trade with Ghana

H.E Sheikh Khalifa Al-Zaabi, Ambassador of Dubai to Ghana

…trade between both countries estimated at US$1.2 bn in 2017

Dubai is optimistic about increasing non-oil trade with Ghana from 2019 to further deepen bilateral relations between the two countries.

Non-oil trade between Ghana and Dubai has risen steadily in recent years, hitting US$1.2 billion in 2017, while the number of Ghanaian companies registered with the Dubai Chamber of Commerce continues to climb.

Instructively, several Emirati companies are investing in the country, especially in sectors like infrastructure, communications and tourism among others.

In all, year to date trade volumes between Ghana and the United Arab Emirates (UAE) as of November 2018, hovered around US$3.5 billion with the amount expected to reach US$4 billion by end of year.

In April this year, the Dubai Chamber in Ghana facilitated the visit of a high-level trade delegation of government officials and business leaders to the UAE, with the visit resulting in 175 bilateral meetings to advance commercial ties.

Government agencies including Ghanaian companies – banks, insurance companies, agri-businesses, engineering companies and fintech firms took part in the mission.

In September this year, the Chamber partnered with the Ghana Investment Promotion Centre (GIPC) to host the UAE Undersecretary of Economy and high level businesses from UAE on a trade mission to Ghana with the visit resulting in more than 70 bilateral meetings in Accra.

The Head of Dubai Chamber of Commerce’s Ghana Office, Cyril Darkwa, at an end of year reception held in Accra recently, said Dubai has always been eager to enhance trade ties with Ghana, using the country as the main gateway to other markets in the sub region for Emirati investors.

“The GIPC has been very critical in everything we do and has been key in ensuring that FDI from Dubai to Ghana sees increase in value,” Mr. Darkwa said.

Dubai’s Ambassador to Ghana, Sheikh Khalifa Al-Zaabi, said the government of the UAE has shown enormous economic commitment to this country, evidenced by the opening of the first ever embassy here.

“This singular act points to the fact that Ghana is indeed a country of interest to the UAE. The embassy works closely with Dubai Chamber of Commerce in facilitating a smooth entry of UAE based businesses into Ghana including advice on various sectors of the economy that UAE businesses can invest in,” he noted.

By Wisdom Jonny-Nuekpe