Gulf trade with Africa a growing source of optimism

Trade and investment between Arabian Gulf countries and Africa could historically be summed up in one line: oil going one way, a few agricultural products going the other.

This is now changing as an increased diversity of capital is on the move in both directions.

UN figures show that total merchandise trade between Africa and UAE alone increased from US$5.6 billion in 2005 to $17.5bn in 2014, the latest year available.

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Freighting of cargoes rises by 10%, says NAHCO chief

Freighting of agricultural and perishable cargoes and other non-consumable products at the nation’s international airports has increased by 10 per cent, Nigerian Aviation Handling Company (NAHCO) Chief Commercial Officer Seyi Adewale has said.

He said the air freight of such cargoes increased from about two per cent to 12.5 per cent in the last few years due to the export promotion policy.

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African Airlines Fly High With Cargo On the Back of a Strong Economy

African airlines have registered the fastest growth in freight volumes in seven years in the first half of this year, bouyed by strong trade lines between the continent and Asia.

Data released by the International Air Transport Association (IATA) for the global airfreight markets shows that the volumes were up 31.6 per cent, with a capacity increase of 7.6 per cent.

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US vs Russia opens door for North African supplies to Europe

US sanctions on Russia, recently signed – grudgingly – into law by US President Donald Trump, represent an opportunity for additional North African supplies to European gas markets. While much of the discussion has focused on the potential for greater US LNG imports into Europe, the main beneficiary is likely to be North Africa.

Whether the gas producers of the Maghreb will be able to cash in on this opportunity is another question.

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