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UAE set to attract SA investments
The United Arab Emirates (UAE) – and, in particular, Ras Al Khaimah – is keenly eyeing investments from South African companies in 2012.
The scope of the relationship between the two countries warrants the high-level delegation from Ras Al Khaimah that is arriving in South Africa in early February. The delegation is meeting with the top management of South African multinational companies and SMEs to discuss investment possibilities in the Emirate.
Under the guidance of H H Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah (RAK), the Emirate has achieved remarkable success in its development initiatives, helping establish one of the Middle East’s most dynamic and fastest-growing economies.
Healthy economic and trade ties underpin the relationship between South Africa and the UAE. The fact that these ties are growing exponentially is attributed primarily to the support such activities receive from the authorities in the two countries and secondly to the fact that both the UAE and South Africa are trade and distribution hubs for their respective regions. South Africa remains the UAE’s key business and investment partner, with total bilateral trade reaching almost $2-billion, while South Africa is among the Top 20 investors in the country.
The delegation will be lead by Dr Khater Massad, the CEO of Ras Al Khaimah Investment Authority (RAKIA). Delegates will present their strategies and market outlook and share views on the macroeconomic picture for Middle Eastern opportunities at events hosted by RAKIA and organised by Dun & Bradstreet. The events will be held in Johannesburg at The Montecasino Palazzo and Cape Town at The One & Only on 7 and 8 February respectively.