UAE-Africa trade may reach $30 bn in 2013

Last Updated: Fri, Jun 28, 2013 03:10 hrs

Nairobi, June 28 (IANS) Trade between the United Arab Emirates (UAE) and Africa is expected to jump to $30 billion in 2013, a UAE government official said here.

This will represent a 27 per cent increase in bilateral trade from the previous year, the UAE ambassador to Kenya reported Xinhua citing Abdulrazak Hadi as telling reporters Thursday.

"Due to Africa's fast growing economies, we expect total bilateral trade between UAE and Africa to hit $30 billion in 2013," Hadi said during a UAE trade mission to Kenya and Tanzania between June 23-29.

The visit comes after high level talks between the two nations following the inauguration of Kenya's new government two months ago.

Senior UAE government officials and more than 25 UAE companies will visit the region to explore trade and investment opportunities.

Statistics from the trade ministry indicate that Kenyan imports from the UAE exceeded exports by approximately $630 million in 2012.

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