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Sharjah signs MoU with Zanzibar to drive investment opportunities across the UAE & Africa

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Expected to strengthen trade and economic cooperation, the agreement will drive investment opportunities in Sharjah and Zanzibar.

In a bid to increase investment between the UAE and the continent of Africa, the Sharjah Chamber of Commerce and Industry has signed an MoU with the Zanzibar National Chamber of Commerce, Industry & Agriculture.

Expected to strengthen trade, economic cooperation, investment relations, and expand a commercial network; the agreement will focus on opportunities between the two chambers while promoting investment and the MICE (meetings, incentives, conferences and events) market.

The MoU underscores Sharjah’s goal to increase economic and investment ties in Africa.

“The African markets are among the best-emerging markets for Emirati products, thanks to the population density of these countries and the need of these markets for high-quality products at competitive prices. The Sharjah Chamber, from this perspective, is keen to keep in touch with the African countries through dispatching annual trade missions to identify the growth opportunities available to the Chamber’s members,” said His Excellency Abdullah Sultan Al Owai, Chairman of the Sharjah Chamber of Commerce & Industry who signed the agreement virtually.

“In addition to introducing investors, businessmen, and local companies to the investment opportunities available in the African markets, the agreement will help provide support for investors and private sector in Zanzibar to boost their investments in Sharjah and to make the most of its economic qualities which made the emirate an attractive destination for investors from around the world,” Al Owais concluded.

 

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