Ghana's exports of cocoa to Dubai have grown over the years to reach Dh 27 million in 2014, according to figures released during a roundtable discussion organised by Dubai Chamber of Commerce and Industry on the cocoa industry in Ghana and the synergies between the industry and Dubai's private sector.
The event, held recently in the Ghanaian capital, Accra, was aimed at identifying how Dubai can play a role in being a global hub for Ghana to reach the Asian markets and the emirate's attractiveness as a sound investment destination.
Cocoa represents 57% of Ghana's export earnings and the country is the second largest producer of this crop after Cote d' Ivoire, accounting for 34% of the global cocoa market.
Welcoming the participants to the roundtable and throwing light on the bilateral trade relations, Omar Khan, Director, International Offices, Dubai Chamber of Commerce and Industry, said, "Ghana's exports of cocoa to Dubai have grown over the years. The value of Dubai's total cocoa imports from Ghana was Dh 27 million in 2014, out of the Dh 6 billion which represents Dubai's non-oil trade with Ghana in 2014."
He went on to say that the Chamber has been working closely with Ghana to promote this industry. Dubai's proximity to Asia, which is seeing a rising demand for cocoa, makes it an ideal hub for companies looking to expand in that region. Dubai offers a stable financial environment to do business in terms of world-class infrastructure, sound legal and economic policies, and cost and time effective procedures for setting up businesses, all of which are instrumental in making Dubai Emirate the destination of choice for businesses.
Khan added, "Dubai Chamber, which recently opened an office in Accra, has been closely working with the various stakeholders to provide support and advice to companies looking to set up in Dubai, and for its members hoping to expand overseas.
This roundtable, he said, was one such initiative which highlighted the synergies between the Dubai and Ghana market for cocoa and gave the stakeholders from both sides an opportunity to connect.