Date: 29 Feb, 2020
Location: Address Boulevard Hotel, Dubai
The Arab Bank for Economic Development in Africa, in cooperation with the Arab Authority for Agricultural Investment and Development, organized “The Promotional Meeting for the Great Lakes Investment and Trade Conference” on February 29, 2020. The meeting aimed at highlighting the most prominent investment and commercial opportunities in the African Great Lakes region. The meeting, which was held at the “Address Boulevard Hotel” in Dubai, was an ideal platform for investors and private sector institutions in the United Arab Emirates and the countries of the Middle East to explore areas that the private sector can invest in and contribute to achieving economic development in the region.
H.E Dr. Sidi Ould TAH, Director General of the Arab Bank for Economic Development in Africa, stated that, “The Bank continues its unwavering commitment to support economic and social growth in the African Great Lakes region. The convening of this preparatory meeting comes to provide an important platform that allows investors and private sector institutions from the UAE and Middle Eastern countries an opportunity to explore possible investment activities in the economies of the countries surrounding the Great Lakes. In addition to forming a deeper understanding in this regard before the Great Lakes Investment and Trade Conference scheduled for March of this year.”
On his part, H.E Mohammed Bin Obaid Al Mazrooei, President of the Arab Authority for Agricultural Investment and Development, stated, “The Arab Authority for Agricultural Investment and Development supports its sister organization, the Arab Bank for Economic Development in Africa, to achieve sustainable economic development in the African Great Lakes countries. This is in several areas, including the development side, in relation to small producers and farmers, as they constitute the largest proportion in the field of agricultural and animal production and the agricultural sector in particular. In light of the resources that these countries have, they are beneficial to the affiliate companies of AAAID by opening new markets and advancing the countries through exchanging goods and common interests between them and the African Great Lakes countries. This paves the way for the development of these vital areas, which in turn contributes to achieving the global sustainable development goals, in which eradicating hunger in the world is one of its main pillars.”
The “Great Lakes Investment and Trade Conference” will be held from 18 – 20 March 2020 in the Rwandan capital Kigali, and this event constitutes a global conference dedicated to mobilizing private sector investments and directing them to the African Great Lakes region, which includes Burundi, the Democratic Republic of the Congo, Rwanda, Tanzania and Uganda. The conference will be held under the theme ” Cross-border and trade investment as a catalyst for regional integration” with a focus on supporting and stimulating economic activities related to the value chains of logistics, agriculture, mining, energy, services and the tourism sector. The conference is expected to attract more than 700 participants from governments, private sector institutions, financial and development institutions and the most prominent international players in the investment field.
The ” Great Lakes Investment and Trade Conference” is organized by the United Nations Office of the Special Envoy for the Great African Lakes, the “International Conference on the Great Lakes Region” and the government of the Republic of Rwanda. The event is to be held by the signatories of the “Framework Agreement for Cooperation, Security and Peace” led by the United Nations, as a follow-up to the procedures and decisions of the ” Private Sector Investment Conference” held in 2016 in Kinshasa, Democratic Republic of the Congo.
The Great Lakes region is considered one of the richest regions of the continent of Africa in terms of untapped natural resources, which can be invested and developed with a view to achieving social and economic development in the region.
It should be noted that the “Arab Authority for Agricultural Investment and Development” was established in the year 1976 with the aim of reinforcing Arab food security. The authority, which has extensive experience in the field of investment and agricultural manufacturing, offers its investors with many advantages and privileges in all member countries. The Arab Authority’s activity focuses on agricultural investment, both plant and animal, and related activities and projects. It also actively contributes to supporting sustainable agricultural development through income generation projects and the provision of advanced agricultural technology, scientific research services and loans.