UAE-Côte D’Ivoire Partnership Launches Cashew Processing Facility

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Robert Beugré Mambé, Prime Minister of Côte d’Ivoire, have opened a new cashew processing plant in Boundiali. This UAE-backed facility marks a significant step in the economic relations between the two countries.

The factory, managed by Pan African Agro Commodities Holding Limited (PAACH), is incorporated in the Abu Dhabi Global Market (ADGM). It aims to boost West Africa’s agriculture sector and enhance its key exports. With a daily processing capacity of 100 metric tonnes, it is expected to create 500 direct and 3,500 indirect jobs.

Côte d’Ivoire ranks among the top five global cashew exporters, with around 80 percent of its production sold internationally. Cashews are the country’s second-most important export, contributing 9 percent to its GDP. The new facility will strengthen Côte d’Ivoire's role in global supply chains.

During the launch ceremony, Al Zeyoudi highlighted the UAE’s commitment to West Africa. He said, "The opening of this impressive cashew-processing factory underlines the UAE’s belief in the economic potential of Côte d’Ivoire." He also expressed optimism about future relations between the two nations.

Al Zeyoudi further noted that Côte d'Ivoire is adopting bold economic policies and ambitious reforms aimed at sustained growth. He envisions significant private-sector collaboration between the UAE and Côte d'Ivoire to support industrial and agricultural development.

Commitment to Local Economy

Abdul Jabbar Al Sayegh, Chairman of PAACH, emphasised Côte d'Ivoire's potential during his remarks at the inauguration. "This factory not only represents a major investment in the Côte d’Ivoire market but also testament to the strength of bilateral relations between the UAE and Côte d’Ivoire," he stated.

He added that their company is committed to contributing positively to the local economy. The investments are expected to enhance growth and contribute to economic and social progress in Côte d'Ivoire.

Expanding Economic Cooperation

While in Côte d’Ivoire, Al Zeyoudi held detailed discussions with Prime Minister Mambé on various economic issues. They focused on accelerating private-sector cooperation as central to growth and job creation. The meeting underscored potential collaboration in sectors like food production, agriculture, manufacturing, and logistics.

Al Zeyoudi also met with Dr Souleymane Diarrassouba, Minister of Trade and Industry, and Mamadou Sangafowa-Coulibaly, Minister of Mines, Energy and Petroleum. They agreed on exploring new avenues for increased collaboration.

Growing Bilateral Trade

Bilateral trade between the UAE and Côte d’Ivoire has seen significant growth recently. Non-oil trade reached US$468 million in 2023, marking a 95 percent increase compared to 2020. Both nations are committed to enhancing their economic ties across sectors like agriculture, tourism, infrastructure, and telecoms.

The growing partnership has also led to increased investment flows between the two countries. Both nations aim to continue strengthening their economic relationship through further investments in key sectors.

This new cashew processing factory signifies a crucial milestone in UAE-Côte d'Ivoire relations. It highlights both countries' commitment to fostering economic growth and development through strategic investments and collaborations.

With inputs from WAM