Muhammed Ali Alkamali on strengthening Dubai-Rwanda trade relations, diversifying economy

The Emirati State of Dubai has embarked on a strategic mission to diversify its economy, with a focus on enhancing trade relations not only within the United Arab Emirates but also with African countries like Rwanda. In a recent interview with CNBC Africa, Muhammed Ali Alkamali, Deputy CEO of Dubai Exports, shed light on the deliberate efforts Dubai has made to diversify its economy and the steps taken to bolster trade relations with Rwanda. Alkamali highlighted Dubai's commitment to diversification by implementing various strategies, such as the Dubai Industrial Strategy, aimed at boosting the manufacturing sector and supporting foreign trade. He emphasized the importance of connecting with the world and positioning Dubai as a global hub for exports, which has led to significant growth in foreign trade. Dubai's focus on diversification extends beyond traditional industries, with opportunities emerging in sectors like artificial intelligence and technology. Alkamali stressed the importance of adapting to changing consumer behavior and tapping into new markets to support the city's overall GDP. The interview also touched upon Dubai's role as a re-exporting hub, highlighting the two-way trade relationship being fostered between Dubai and African countries like Rwanda. Alkamali emphasized the need for mutual benefit, with Dubai serving as a gateway not only for exports to Rwanda but also as a platform for African companies to access global markets. In terms of Dubai's short-term plans for Africa, Alkamali revealed a focus on key sectors like food, electronics, and packaging, which are in high demand in the African market. He mentioned Dubai's commitment to pushing products that are well-received in Africa while also exploring new opportunities and expanding beyond expectations. Looking ahead, Dubai's long-term strategy for Africa involves continued engagement with the continent, building on successful initiatives in countries like Ghana, Nigeria, Kenya, and now Rwanda. With a keen eye on emerging consumer trends and the potential of Africa's growing young population, Dubai aims to forge lasting partnerships and drive economic growth across the region. Overall, Dubai's approach to strengthening trade relations with Rwanda and Africa underscores a commitment to diversification, innovation, and mutually beneficial partnerships, paving the way for sustainable economic growth and prosperity.