A recent investment forum for Chad has led to potential deals surpassing $6.2 billion, according to a United Arab Emirates minister on Monday, who mentioned that a trade agreement is anticipated in the coming weeks.
Approximately 40 agreements were finalized with organizations and companies from Chad, a central African nation neighboring conflict-ridden Sudan, the minister noted in Abu Dhabi.
“We identify significant development opportunities to foster growth and stability in Chad,” stated UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi at the UAE-Chad Trade and Investment Forum, which lasted two days.
“Is Chad a strategic country for us? Absolutely,” he affirmed.
Chadian officials unveiled a national development plan at the forum in the UAE capital, aiming for $30 billion in investments.
This month, the United Nations alerted about a surge of Sudanese refugees entering Chad after the paramilitary Rapid Support Forces (RSF) seized El-Fasher, reportedly engaging in numerous atrocities.
Between 2019 and 2023, the UAE invested over $110 billion in Africa, positioning itself as the leading supporter of new projects on the continent, as reported by the Ministry of Economy and Tourism last month.
A Comprehensive Economic Partnership Agreement with Chad could be finalized by year-end, Zeyoudi mentioned. Additionally, non-oil trade increased by 32% to $1.9 billion last year, he added.
If fully realized, the new investment deals for Chad will be valued at over $6.2 billion, according to the minister.
