Dubai World sees potential for developing ports and a freezone in Mauritania

WAM Dubai, April 14, 2008 (WAM) -- Sultan Ahmed Bin Sulayem, Chairman of Dubai World, has expressed interest in managing and developing Nouakchott port, and saw great potential for a freezone nearby.

Bin Sulayem, who is currently touring West Africa along with a number of senior Dubai World officials to identify areas of investment, met on Sunday the Mauritanian President, HE Sidi Mohamed Ould Cheikh Abdallahi. They discussed investment opportunities in various sectors of the economy, including minerals, mining and power generation.

Speaking about his meeting with HE Sidi Mohamed, bin Sulayem said: We held very fruitful talks with His Excellency the Mauritanian President, during which he welcomed investments from Dubai World and expressed keen interest in the Dubai development model, and admiration for the vision and foresight of its leaders. Our interest in Mauritania goes beyond the traditional historic trade ties, as we see plenty of potential for growth in the country's mining, and energy sectors, he added.

Bin Sulayem's visit to Muaratania included a tour of Nouakchott port along with the accompanying delegation.

After touring the port, we feel that there is ample opportunity for the development of a Freezone that can help increase business for the port, which we would like to manage and develop as well, he said.

Mauritania has extensive deposits of iron ore, which account for almost 50 per cent of its total exports. The nation's coastal waters are among the richest fishing areas in the world. Mauritania?s economy is expected to grow by 4.5 per cent this year, and to continue growing at a steady rate of 4 per cent up to the year 2010.

During 2007, Dubai's non-oil trade with Mauritania stood at around AED 157 million, with re-exports (around AED 118 million) accounting for a majority of this amount.

Source: Transportweekly