Afreximbank signs MoU with UAE to promote intra African trade

The African Export-Import Bank (Afreximbank) signed an MOU with the United Arab Emirates (UAE) Trade Center, to promote the TRADAR Club solution in the market.

The Cooperation Agreement, signed between Afreximbank and the UAE Trade Center on the sidelines of the Intra-African Trade Fair (IATF2023) Press Conference and B2B Meetings in Dubai United Arab Emirates (UAE), provides for the two institutions to commence harmonisation of their efforts in various areas of collaboration to support the TRADAR Club objectives.

According to Afreximbank, the agreement was signed by Head of Trade Intelligence Solutions, Ms. Lizanne Case, on behalf of Afreximbank, while Chief Executive of the UAE Trade Center, Walid Hareb AlFalahi, signed for his organisation.

It stated that Afreximbank TRADAR Club, launched recently as a prestigious member-driven network, empowers international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services.

To propagate the solution in the market, Afreximbank is establishing strong relationships with a wide variety of partners. Under the terms of the cooperation agreement with the UAE Trade Center, the two institutions will collaborate in such areas as inter-institutional cooperation; provision of business-oriented information to facilitate trade and investment; business matchmaking; grants; technical assistance; and capacity building, among others.

It further explained that the agreement is expected to facilitate greater interaction by allowing for the sharing of ideas and discussion of common problems to improve relationships and cooperation among members.

TRADAR Club will serve as an information pool assisting the exchange of reliable trade information, trade policies, customer databases, research reports, expert analysis, directories of African investment information, rules and regulations, general updates on statistics, business data and investment incentives, among others.

It added that TRADAR Club members will also be invited to trade and investment missions and exhibitions.