Fujairah Chamber discusses trade relations with South Africa

Fujairah 20-10-2019 / WAM
Sheikh Saeed bin Suroor Saif Al Sharqi, Chairman of Fujairah Chamber of Commerce and Industry, affirmed the keenness of the UAE leadership to strengthen its relations with South Africa, pointing out that the relations between the two countries are witnessing a positive development on all economic and trade levels.
This came during a meeting at his office at the Chamber’s headquarters at noon today His Majesty David Magabi, Consul General of the Republic of South Africa in Dubai and a number of consular officials in the presence of His Excellency Marwan Abdullah bin Sheikh and Musabah Mohammed Al Mazrouei, members of the Board of Directors of the Chamber and Sultan All Hindasi Director General of the Chamber.
During the meeting, they discussed ways of boosting trade exchange between the Emirate of Fujairah and the Republic of South Africa and the possibility of establishing trade and investment partnerships between the employers of both sides.
“ The Republic of South Africa is a strong strategic partner for the UAE, and the emirate of Fujairah is commercially linked with South Africa, ” he said.He pointed out that the volume of trade exchange between the two sides reached more than AED 116 million in 2018.
Al-Hindasi reviewed Fujairah’s economic and development potential, pointing out that the emirate’s distinct geographical location outside the Strait of Hormuz and the continuous modernization of its integrated and integrated infrastructure have made it an ideal trade portal at the regional and global levels.
He said the emirate could be a vital window for South Africa to revitalize its trade with the countries of the Indian subcontinent, East African countries and Europe.
The Director General of Fujairah Chamber said that the location of Fujairah and its great potential in oil storage and refining, welcomed it to be the second in the world in the field of supplying ships with fuel, and the emirate provides an encouraging investment environment, especially in the areas of oil storage and refining where the storage capacity is currently about 10 A project is currently underway to store 42 million metric tons of oil in Fujairah, making it the largest oil storage center in the world.
During the meeting, the Consul General of South Africa affirmed his country’s keenness to strengthen relations with the UAE because of its openness to the world and its capabilities and expertise in the field of trade, services, advanced infrastructure and security and economic stability.
He reviewed the economic potential in his country, pointing out that it consists of the mining sector, agriculture, food industries and energy .. He said that business owners in his country are looking to strengthen relations with their counterparts in the Emirate of Fujairah, which contributes to the exchange of information on investment opportunities available to both parties and the possibility of establishing trade partnerships, especially In mining and tourism