Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, engaged with the South African Business Council in the UAE to deliberate on strategies aimed at enhancing trade, investment, and collaboration within the private sector between the two nations. The meeting highlighted the UAE’s dedication to fortifying its economic ties with African countries, acknowledging the continent’s growing significance in global trade dynamics.
During the discussions, Al Zeyoudi pointed out the remarkable increase in trade between the UAE and South Africa, indicating that the UAE’s non-oil foreign trade with South Africa reached $8.5 billion in 2024 – a 14 percent rise compared to 2023 and a notable 120 percent escalation since 2019. This trade surge persisted into the first half of 2025, with non-oil bilateral trade hitting $3.93 billion. South Africa stands as the UAE’s second-largest non-oil trade partner on the African continent, underscoring the considerable potential and opportunities available for both nations’ private sectors to further enhance their relations.
Al Zeyoudi emphasized the importance of investing in projects that align with sustainable development goals, thereby creating jobs and lasting economic value in Africa. The gathering concluded with a shared commitment to further investigate collaborative projects that will bolster trade relations and economic ties between the UAE and South Africa, paving the way for a prosperous future for both countries. Over 3,690 South African businesses currently operate in the UAE, encompassing key sectors such as construction, hospitality, financial services, and more. UAE businesses are also increasingly active throughout South Africa.
DP World serves as a major logistics operator, while AMEA Power is involved in the generation of renewable energy. South Africa, recognized as the largest exporter in Africa and boasting the highest nominal GDP on the continent, stands out as a market with immense potential for augmented private sector collaboration, especially in sectors like food, transport, and renewable energy, which were focal points of the meeting.
Recent detailed trade data showcases the nuanced balance of trade between the UAE and South Africa. In 2024, South Africa’s exports to the UAE rose to approximately $2.67 billion, marking a 6.03 percent increase year-on-year, with diamonds constituting the dominant export product at over 42 percent of total exports. In contrast, imports from the UAE to South Africa declined by 25.59 percent to $2.96 billion, predominantly comprising refined petroleum products. Notably, the Western Cape Province recorded a strong growth in exports to the UAE, particularly in citrus fruits, highlighting agricultural sectors as key growth areas. Over the decade from 2014 to 2024, UAE-based companies invested in 28 foreign direct investment projects in South Africa, generating capital expenditures valued at nearly $23.64 billion and creating approximately 6,200 jobs, underscoring the UAE’s deepening economic footprint in South Africa. Tourism also recorded incremental growth, with over 6,700 tourists from the UAE visiting South Africa in 2024, demonstrating expanding people-to-people ties.
Source: Economymiddleeast
