UAE and Côte d’Ivoire Inaugurate UAE-Backed Cashew Processing Factory

UAE’s Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi and Prime Minister of Côte d’Ivoire, Robert Beugré Mambé officially opened a new factory for processing of cashew nuts in Côte d’Ivoire developed by the UAE. This new 50 thousand ton warehouse in Boundiali, belonging to the Pan African Agro Commodities Holding Limited (PAACH), can be understood as the deepening economic cooperation between the two countries.

Côte d’Ivoire ranks among the five largest cashew exporting countries; cashews are the second most exported product in the country and contribute 9 percent to its Gross Domestic Product. The new factory will have the capacity of processing one hundred metric tonnes per day, and should provide five hundred direct and three thousand, five hundred indirect employment opportunities for the country in meeting its supply chain demands.

Speaking at the launch, Al Zeyoudi pointed to the UAE’s interest in West Africa and said that the facility can contribute to the improvement of Côte d’Ivoire’s economy. Opening of this cashew-processing factory serves the goal of UAE confidence in the economic capabilities of Côte d’Ivoire and presents a blueprint for further investment in the country, Al Zeyoudi noted that this dynamic economy is implementing daring policies and measures for structural and sustainable growth.

CAHI’s Abdul Jabbar Al Sayegh, the Chairman of PAACH, also concurred with this by stating that the factory was an investment and a symbol of relations between UAE and this West African nation; Côte d’Ivoire. ”This factory is a strong outcome of the bilateral relations’ potential for Ivorian market that Demonstrates more commitment to promoting the improvement of the overall economy, growth and development,” he said.

On the sidelines of his visit, Al Zeyoudi also highly warmed up his meetings with Prime Minister Mambé and other ministers, particularly how to boost private sector partnership. The discussions revealed possibilities of partnership in industries based on food production and processing, agriculture, manufacturing industries and transport.