On sidelines of World Government Summit 2022
- ADEX aims to increase access of Emirati exporters to Tanzania
- Tanzania is a promising market in leading broad investment and business opportunities
UAE, Dubai, 30 March 2022: H.E. Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD) and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), met today with a Tanzanian delegation led by H.E Dr. Philip Isdor, Vice President of the United Republic of Tanzania to discuss the enhancement of bilateral relations between the UAE and Tanzania. On the sidelines of the eighth session of the World Government Summit (WSG) at Expo 2020 Dubai, the meeting was also attended by H.E. Mabrouk Mabrouk, Deputy Minister for Foreign Affairs and East African Cooperation and Mr. Khalil Al Mansoori, Acting Director General of ADEX.
ADFD has been WSG’s strategic partner for more than five years. The summit serves as a platform for the creation of common vision among international and financial institutions. It seeks to find solutions for global economic development challenges and contribute to the advancement of developing countries.
H.E. Al Suwaidi expressed ADEX’s interest to explore trade and economic opportunities with Tanzania, that would contribute to increasing the volume of trade and stimulating economic activity.
H.E. said: “The meeting provided a great opportunity for us to join forces with the UAE’s partner countries and discuss collaborative opportunities that serve the common interests of both sides. Our partnership is especially important considering the COVID-19 pandemic’s economic repercussions and its impact on international trade.”
He reiterated ADEX’s goals to strengthen its cooperation and expand the access of the UAE’s export industry to global markets such as Tanzania. By doing so, ADEX is contributing to the Emirates’ bid to become one of the world’s best trade destinations.
For his part, Dr. Philip Isdor, Head of the Tanzanian delegation, noted the deep relations between the UAE and Tanzania. He also emphasized Tanzania’s interest to broaden its cooperation with the UAE on all fronts, saying that such a partnership will be pivotal to his country’s economic and development programs. Within this context, he emphasized the importance of building a more robust collaboration with ADEX and capitalizing on its financing solutions.
Al Mansoori commented: “Our meeting with the Tanzanian delegation served as the key to exploring future opportunities and opening new channels for more vibrant trade and economic activities. It took place at a time when the UAE is seeking to strengthen its ties with Tanzania, one of the most promising and vital markets in East Africa. Tanzania offers broad investment and export opportunities.”
“We will look into all key prospects and remain committed to offering our financing solutions to relevant Tanzanian companies that will help boost the UAE’s exports and increase our country’s access to Tanzania and other major African markets,” Al Mansoori added.
During the visit, the Tanzanian delegation was also briefed on ADEX’s financing solutions offered to importers of UAE goods and services from both the public and private sectors. ADEX’s offerings aim to enhance the competitiveness of the UAE’s exports and facilitate the entry of Emirati exporters to more markets worldwide. The delegation also acknowledged ADEX strategic objectives and vision that are in line with the UAE’s economic diversification and sustainable development strategies.
ADEX financing solutions to foreign importers come in the form of loans and guarantees, which play a significant role in the growth of the national economy. The Office helps boost the country’s export industry and open new markets for local exporters. Apart from reinforcing national exports, it also aims to protect UAE export companies from risks of delays or non-payments.