The removal of trade barriers is key to improving economic development in Africa, according to DP World, which has reaffirmed its commitment to infrastructure investments in Africa.
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Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, told an audience at the Africa Emergence Conference 2019 in Dakar, Senegal that DP World remains committed to supporting the economic growth of Senegal and developing Dakar into a major logistics hub and gateway for West Africa.
In a panel together with Senegal president Macky Sall and Malaysia Prime Minister Mahatir Mohamad, Bin Sulayem explained how economic emergence is dependent on increasing inter African trade and infrastructure development.
“The removal of trade barriers is very important. In Africa tariffs are 50% higher in than in Latin America and Asia,” Bin Sulayem said.
“Intra-regional trade in Africa is only 12% while in Europe, Asia and Latin America is over 50$, we need to improve this to prosper,” he noted. He said that during DP World’s investment in Senegal it saw efficiency and volumes improved by 135% in 10 years.
He also highlighted the importance of developing a logistics infrastructure reflecting DP World’s activities in Rwanda and Mali.
“We believe in connecting landlocked nations to the world and international markets. Our logistics park in Rwanda will reduce costs across the country and region,” he said. “The price of container moving from Shanghai to an East African port is anywhere between $500 to $1,000, the price of same container from the port to Kigali is $5,000,” he added.
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DP World has operations in Senegal, Egypt, Mozambique, Somaliland, Rwanda and Algeria and has recently signed an agreement with Mali to develop a logistics platform and the Democratic Republic of Congo for the countries first deep-sea port.
Below is the full press release issued by DP World
PARTNERSHIPS KEY TO IMPROVING PROSPERITY AND ECONOMIC DEVELOPMENT IN AFRICA SAYS DP WORLD CHAIRMAN AND CEO
Removal of trade barriers, connecting nations and infrastructure development key to the future
DUBAI, UNITED ARAB EMIRATES, 19 January, 2019:-The key to African economic emergence lies in removal of barriers, increased connectivity between nations and infrastructure development, DP World’s Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, told African leaders and top executives in Dakar Senegal.
“We be believe in the viability of Africa, we believe in investing in the continent during our investment in Senegal we improved efficiency and volumes 135 percent in 10 years,” Mr Bin Sulayem told the audience at the Africa Emergence Conference 2019 in Dakar Senegal.
Addressing a panel on how private institutions can help support emergence in Africa with President Macky Sall of Senegal and Prime Minister Mahatir Mohammed of Malaysia Mr Bin Sulayem explained how economic emergence is dependant on increasing inter African trade and infrastructure development.
“The Removal of trade barriers is very important. In Africa tariffs are 50% higher in than in Latin America and Asia,” he said. “Intra regional trade in Africa is only 12% while in Europe, Asia and Latin America is over 50%, we need to improve this to prosper,” he added.
Mr Bin Sulayem reiterated the company’s commitment to supporting the economic growth of Senegal and developing Dakar into a major logistics hub and gateway for West Africa during the panel with President Macky Sall.
He stressed that as a smart trade enabler, DP World has the extensive expertise and know-how that can help African countries realise their trade and infrastructure goals, while assisting countries to address national ports and logistics infrastructure challenges.
He highlighted the importance of developing a logistics infrastructure reflecting DP World’s activities in Rwanda and Mali.
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