Sharjah-Zanzibar deal to bolster investments, foster joint ventures

SHARJAH / WAM

The Sharjah Chamber of Commerce and Industry (SCCI) has signed a Memorandum of Understanding (MoU) with its counterpart in Zanzibar to enhance cooperation and encourage commercial ties between the business communities of both countries.
The agreement was virtually signed by Abdullah Sultan Al Owais, Chairman of the SCCI, and Ali Suliman, Chairman of Zanzibar National Chamber of Commerce, Industry and Agriculture (ZNCCIA).
The agreement aims to establish and expand a commercial network that facilitates the circulation of business opportunities available between members of the two chambers, as well as
the promotion of investment
opportunities.
It also aims to exchange information and data to facilitate commercial contracts and foster joint ventures, and cooperate in organising and participating in trade shows, exhibitions, conferences, and economic activities held in the two countries.
Welcoming the signing of the MoU, Al Owais pointed out to the long-standing relations between the UAE and African countries in all economic fields and Sharjah’s quest to reinforce those relations, as part of its prominent position in international economic arena, as well as being a gateway to the African countries in the region.
He added, “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.”