{"id":14900,"date":"2022-10-28T09:55:44","date_gmt":"2022-10-28T09:55:44","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/use-eswatini-to-grow-uae-investment-king"},"modified":"2022-10-28T11:24:51","modified_gmt":"2022-10-28T11:24:51","slug":"use-eswatini-to-grow-uae-investment-king","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/use-eswatini-to-grow-uae-investment-king","title":{"rendered":"USE ESWATINI TO GROW UAE INVESTMENT – KING"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>His Majesty King Mswati III yesterday told United Arab Emirates business gurus that the Kingdom of Eswatini, which recently discovered vast mineral deposits, was open for business.<\/b><\/p>\n

He said the country recently completed an exercise using high-resolution airborne geophysical data to establish the existence of mineral resources beyond what it has had over the years.<\/p>\n

\u201cThe exercise identified mineral deposits of gold, diamond, Iron-Ore, and Copper-Nickel-Platinum group elements in the north-western part of the country.<\/p>\n

\u201cThis exciting development on the mining front bodes well for the recovery of our country’s economic performance following the negative effects of the COVID-19 pandemic,\u201d His Majesty revealed.<\/p>\n

Leaders<\/b><\/p>\n

The king told business leaders who attended the Eswatini business forum at the Palazzo Versace Hotel that the Kingdom had been trying to create business linkages with the Emirates market.<\/p>\n

He said the Eswatini Tourism Authority (ETA) and the Eswatini Investment Promotion Authority (EIPA) had taken action on multiple fronts to attract tourists and investors to the kingdom.<\/p>\n

\u201cWe also had the Eswatini Civil Aviation Authority (ESWACAA) and the Royal Science and Technology Park participated with ETA and EIPA at the Dubai Expo 2020,\u201d His Majesty said.<\/p>\n

The king informed the forum that during the EXPO Eswatini was able to host two business seminars and was looking forward to building on the gains made during these initiatives.<\/p>\n

He said in order to increase opportunities in this strategic market, ministries of tourism, business and trade had followed up on inquiries and linkages made. \u201cThese efforts have begun to bear fruit, with impressive growth in the overall trade relationship,\u201d His Majesty said.<\/p>\n

Imports<\/b><\/p>\n

The king said in 2020, the Middle East was the fourth largest source of imports at a value of E655 million to Eswatini, of which the UAE was responsible for approximately E140 million of mainly petroleum, but also essential oils, chocolate, and sugar confectionery.<\/p>\n

He said the UAE had been the country\u2019s largest export market in the Middle East, comprising mainly of fresh fruits, scrap metal and handicraft products.<\/p>\n

\u201cTrade, however, remains very much commodity-based and skewered in favour of the UAE.<\/p>\n

\u201cWe need to diversify the products and increase the volume of trade between our two countries and we call for priority to be given to changing the trade balance to be more favourable for Eswatini,\u201d His Majesty told the forum.<\/p>\n

He said it was important for the two countries to strive for a mutually beneficial trading relationship to amplify cooperation in value-added sectors such as agriculture, processing, and infrastructure, services, technology and skills transfer.<\/p>\n

Opportunities<\/b><\/p>\n

\u201cWe invite you to visit Eswatini to see for yourself the opportunities the country has, some of which are outlined in the Post-COVID-19 economic reconstruction strategy plan that was developed by the government.<\/p>\n

\u201cAs part of the investment drive, we are intensifying efforts to improve the business environment,\u201d the king said.<\/p>\n

He said the country had put in place an attractive package of incentives facilitated by EIPA, a government entity that was established to assist potential investors in identifying opportunities and facilitating a seamless investment process.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. His Majesty King Mswati III yesterday told United Arab Emirates business gurus that the Kingdom of Eswatini, which recently discovered vast mineral deposits, was open for business. He said the country recently completed an exercise using high-resolution airborne geophysical data to establish the existence of mineral resources beyond what it has had […]<\/p>\n","protected":false},"author":84,"featured_media":14899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[234,248,249],"class_list":["post-14900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nUSE ESWATINI TO GROW UAE INVESTMENT - KING - Eswatini<\/title>\n<meta name=\"description\" content=\"His Majesty King Mswati III yesterday told United Arab Emirates business gurus that the Kingdom of Eswatini, which re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/use-eswatini-to-grow-uae-investment-king\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USE ESWATINI TO GROW UAE INVESTMENT - 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