The Sharjah Chamber of Commerce and Industry (SCCI) has signed a Memorandum of Understanding (MoU) with its counterpart in Zanzibar to strengthen cooperation and foster trade relations between the business communities of both countries.
The contract aims to establish and expand a commercial network that supports the circulation of business opportunities available between members of the two chambers, as well as the promotion of investment options.
It further intends to share information and data to promote commercial contracts, encourage joint ventures, and cooperate in organizing and participating in trade fairs, exhibitions, conferences, and economic activities held in two countries.
The agreement was signed by Abdullah Sultan Al Owais, Chairman of the SCCI, and Ali Suliman, Chairman of Zanzibar National Chamber of Commerce, Industry, and Agriculture (ZNCCIA).
During the event, Mr. Al Owais pointed to the longstanding ties between the UAE and African countries in all economic fields, as well as Sharjah’s quest to improve those relations, as part of its leading role in the international economic sphere and as a gateway to the African countries.
“The African markets are among the best emerging markets for Emirati products, thanks to the population density of these countries and the need for these markets to keep 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.”
This agreement will help investors and the private sectors in Zanzibar to raise their investments in Sharjah and to take advantage of its economic characteristics, which made the emirate an attractive destination for investors from all over the world, he concluded.