Dubai Chamber Reinforces Commercial Connections with Angola through 252 Business Interactions in Luanda
In a significant stride towards expanding Dubai's business presence in emerging global markets, the 'New Horizons' trade mission has been launched, focusing on Angola as a high-potential market. This initiative, which culminated in a major business forum titled 'Doing Business with Angola', has opened up promising avenues for bilateral trade and investment.
The forum, which attracted 416 participants, served as a platform for discussions centering on enhancing bilateral trade, understanding Angola's economic landscape, and uncovering strategic sectors for collaboration. Keynote addresses at the event were delivered by top officials, including representatives from Angola's Ministry of Industry and Commerce and the UAE's Ambassador to Angola.
One of the key areas of focus for the 'New Horizons' initiative is port and logistics development. The UAE's AD Ports Group, a close partner of Dubai, has secured a 20-year contract to manage and enhance Angola’s Luanda port terminal. This deal includes a $251 million investment over three years to modernize the facility and expand logistics operations, with potential total investment rising to $379 million. The involvement of Dubai-based AD Ports Group in Angola’s port operations presents significant opportunities for boosting trade, increasing shipping efficiency, and attracting global maritime business.
Another strategic sector identified for collaboration is the oil and gas sector. Angola, with its ambition to keep crude oil production above one million barrels per day, offers opportunities for Dubai investors and companies in service provision, investment in production assets, and participation in Angola’s licensing rounds.
The 'New Horizons' initiative also aims to foster enhanced bilateral cooperation across sectors, potentially including trade, investments, energy, and infrastructure development. Meetings and agreements at high governmental levels have opened new horizons for cooperation, supporting diversified economic engagement beyond traditional sectors.
The trade mission, which included a delegation of 20 private sector companies from Dubai, spanning agriculture, energy, construction, IT, logistics, real estate, and more, aimed to support Dubai businesses in expanding into emerging global markets. The non-oil trade between Dubai and Angola reached AED 7.8 billion in 2024, marking a 3.3% increase from the previous year.
As of the current situation, there are 72 Angolan firms that are active members of the Dubai Chamber. Exports identified as key opportunities include textiles, pharmaceuticals, and electronics. With the successful conclusion of the 'New Horizons' initiative, both Dubai and Angola stand to benefit from mutually beneficial trade and investment opportunities.
- The focus of the 'New Horizons' initiative extends beyond trade and investment, aiming to foster collaboration across sectors such as finance, energy, and infrastructure development.
- In the oil and gas sector, Angola offers opportunities for Dubai investors and companies in service provision, investment in production assets, and participation in Angola’s licensing rounds.
- The UAE's AD Ports Group, a partner of Dubai, has made a significant investment of $251 million over three years to modernize and expand logistics operations at Angola’s Luanda port terminal.
- The involvement of Dubai-based AD Ports Group in Angola’s port operations can potentially boost trade, increase shipping efficiency, and attract global maritime business, positively impacting the overall health and prosperity of both communities.
