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•  Mr Hamad Buamin —  CEO, Dubai Chamber of Commerce

Dubai Chamber to double trade with Ghana

The Dubai Chamber of Commerce, made up of 170,000 businesses which together churn out goods and services worth about US$70 billion, believes it can deepen trade and business relations with Ghana and the rest of Africa.

The President and Chief Executive Officer of the Chamber, Mr Hamad Buamin, stressed that the US$2.5 billion trade volume between Ghana and Dubai could be increased, if avenues of processing and value addition were explored.

“Wherever we go our initial target is to double the figure in five years. The trade between us has been growing at 20 per cent year-on-year, but we want to go beyond the current trade numbers,” Mr Buamin told a section of the media after the chamber on January 21 opened its Ghana office, its first in West Africa.

Ghana exports by DigiSaver" href="#">gold, cocoa and other non-traditional products to Dubai, controlling about US$2 billion of that trade value. Dubai on the other hand exports durable and consumable goods to Ghana such as home and electrical appliances, clothing, vehicles and other finished products.

“We believe this number can grow a lot; there can be a number of developments because for example by DigiSaver" href="#">gold is sent from here as raw material, but processing it in Ghana is another thing that we can explore with Dubai businesses,” he said.

“Our organisation is the biggest business chamber in the gulf region. So what we are providing here is a branch office of 170,000 businesses. These businesses will now have more understanding of your market and follow the chamber by coming here to do business,” he said.

Dubai Chamber is looking at a number of sectors as commodities such as by DigiSaver" href="#">gold, cocoa, coffee, which they would use its wide connection with the rest of the world to re-export.

Supply chain logistics, real estate and the financial services sector are key areas members are also interested in. Dubai is also a known destination for tourism and the Chamber wants members to focus on.

Mr Buamin also expressed the hope that the Chamber in Ghana should also facilitate the way for Ghanaian businesses to explore business opportunities in Dubai as well.

“We are here to do business with Ghana and West Africa because we see Ghana as the gateway to West Africa and the rest of Africa,” Mr Buamin explained.

He paid tribute to the President, John Dramani Mahama, for throwing the invitation to them, after presenting the opportunities that the country presented to them, saying the opening of the Ghana office was a demonstration of its belief in the economy and their commitment to the long term prospects of the country.

The Minister for Trade and Industry,  Ekwow Spio Garbrah, stated that the new office was a manifestation of successful preceding trade and business fora and would help take the two countries’ bilateral relations to a higher level.

The minister added: “The opening of this office also reflects the commitment of the UAE and Ghana governments in enhancing trade ties”. GB

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