The UAE and South Africa want to enhance $8.5bn commerce ties and develop nearer financial ties.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of Overseas Commerce, met with the South African Enterprise Council within the UAE to discover methods to develop commerce, funding, and personal sector collaboration between the 2 nations.
The assembly underscored the UAE’s dedication to strengthening financial partnerships with African nations, recognising the continent’s rising significance in international commerce.
UAE-South Africa commerce
Al Zeyoudi highlighted the sturdy efficiency of bilateral commerce, noting that the UAE’s non-oil overseas commerce with South Africa reached $8.5bn in 2024, a 14 p.c improve in comparison with 2023 and a 120 per cent rise since 2019.
This momentum has carried into 2025, with non-oil bilateral commerce reaching $3.93bn within the first half of the 12 months. South Africa is now the UAE’s second-largest non-oil commerce associate in Africa, reflecting important progress potential.
Dr. Al Zeyoudi stated: “The UAE is dedicated to enhancing its financial partnership with South Africa. Right this moment’s discussions had been targeted on encouraging new avenues for personal sector collaboration that can profit each our nations.
“We’re notably enthusiastic about initiatives associated to meals safety, logistics, infrastructure, tourism, and renewable vitality in South Africa and throughout the continent. By working collectively, we proceed to unlock new alternatives that not solely drive financial progress but in addition contribute to the sustainable growth of all our nations.”
The assembly additionally targeted on initiatives that align with sustainable growth objectives, creating jobs and lasting financial worth in Africa.
Greater than 3,690 South African companies already function within the United Arab Emirates, spanning sectors resembling development, hospitality, and monetary companies, whereas UAE corporations are more and more lively in South Africa.
Key examples embody DP World, a significant logistics operator, and AMEA Energy, which is producing renewable vitality initiatives throughout the continent.
With South Africa recognised as Africa’s largest exporter and the continent’s highest nominal GDP financial system, the market gives important potential for deepening non-public sector collaboration.
