President of the Republic of Equatorial Guinea visits Dubai World

HE Teodoro Obiang Nguema Mbasogo, President of the Republic of Equatorial Guinea, stressed the need to enhance bilateral relations between UAE and his country.

He said Equatorial Guinea could benefit immensely from Dubai World's expertise in strategic industry segments, transport and logistics, maritime, and urban development.

He praised the phenomenal growth of Dubai and the integral role that Dubai World has played in it.

During his stay, President Mbasogo accompanied by Mr. bin Sulayem, visited Jebel Ali Port and Free Zone. He also met with officials from Limitless and visited Nakheel Headquarters, the Palm Islands projects and Dubai Marina,

Mr. Bin Sulayem said "Despite having one of the smallest populations in Africa, Equatorial Guinea has one of the fastest growing economies on the continent which makes it a great partner for Dubai World. We have expanded our range of business activities in order to meet the needs of our customers. Diversification, both in industry and geography, is a key Dubai World objective."

Equatorial Guinea is located between Cameroon and Gabon on the West Coast of Africa, and as the name implies, it is located near the Equator. The country has a population of around half a million and has a dynamic economy fuelled by large oil and gas deposits discovered in the mid-1990s.

In 2006 Dubai's exports to Equatorial Guinea were worth over Dhs5.441m, and re-exports were valued at Dhs21.167m. The exports comprised chemicals, textiles, cement, furniture, toys, sports goods, and processed foodstuff.