Ghana and Dubai trade? could reach $5bn in the next five years, according to the Dubai Chamber of Commerce and Industry.
The volume of trade between Ghana and Dubai currently stands at $2.5bn.
President of the Dubai Chamber of Commerce and Industry, Hamad Buamim, speaking at the official opening of the Dubai Chamber office in Accra, declared ?We are here for a long term, and our vision is to double the volume of trade between Ghana and Dubai in the next five years,? he said.
Mr. Buamim, who also doubles as the Chief Executive Officer of the Dubai Chamber, said Ghana?s exports to Dubai last year, which were mostly gold and cocoa, stood at $2bn?while Dubai’s?exports to Ghana the same period stood at $500mn.
?Dubai is not worried about the trade imbalance which is skewed in favour of Ghana because we are hopeful the gap will be bridged in the foreseeable future,? he said.
He said members of the Dubai Chamber were excited about the economic prospects and numerous investment opportunities in the country and would work hard to attract investment to those sectors.
The Dubai Chamber of Commerce and Industry,wasestablished in 1965 as a non-profit organisation with the mission to represent, support and protect the interests?of the business community in Dubai, creating a favourable business environment, supporting the development of business?and promoting Dubai as an international business hub.
The Chamber, the biggest trade organisation in the Gulf region, has a membership of 170,000 companies across the world with the capacity to export over $70bn worth of products annually.
Mr. Buamim said the Chamber would work hard to attract investment to the commodities, supply chain and logistics, real estate, tourism and finance sectors of the economy.
He said the inauguration of the new office?in?Accra, the second in Africa, underscores the commitment of the Dubai Chamber to strengthen?economic and trade ties between Ghana and Dubai.
?This new office will open up a wave of opportunities for Dubai businesses, and their competitiveness to reach out to the West African region while facilitating Ghanaian enterprises to use Dubai as an ideal gateway for Ghanaian exports to the Middle East region, South Asia and Europe,? Mr. Buamim said.
