The African Export-Import Bank (Afreximbank) has signed an MoU with the United Arab Emirates (UAE) Trade Centre to promote the TRADAR Club solution in the market.
The Cooperation Agreement, signed between the two institutions on the sidelines of the Intra-African Trade Fair (IATF2023) press conference and B2B meetings in Dubai, United Arab Emirates (UAE), provides for the two institutions to commence harmonisation of their efforts in various areas of collaboration to support the TRADAR Club objectives.
The agreement was signed by Ms Lizanne Case, Head of Trade Intelligence Solutions on behalf of Afreximbank, while Mr Walid Hareb AlFalahi, Chief Executive of the UAE Trade Centre, signed for his organisation.
A statement issued by the Bank on Friday said the Afreximbank TRADAR Club, launched recently as a prestigious member-driven network, empowers international businesses and executives to transform trade and investments in Africa through trusted trade intelligence and advisory services.
"It delivers innovative digital tools and networking opportunities, helping its members to discover new markets, grow their businesses, save time, access dedicated expert support, post and respond to new business opportunities, network, meet business/trading partners, and more," it said.
To propagate the solution in the market, the statement said Afreximbank was establishing strong relationships with a wide variety of partners.
Under the terms of the cooperation agreement with the UAE Trade Centre, the statement said the two institutions would collaborate in such areas as inter-institutional cooperation, provision of business-oriented information to facilitate trade and investment, business matchmaking, grants, technical assistance, and capacity building, among others.
The agreement is expected to facilitate greater interaction by allowing for the sharing of ideas and discussion of common problems for the purpose of improving relationships and cooperation among members.
TRADAR Club will serve as an information pool assisting the exchange of reliable trade information, trade policies, customer databases, research reports, expert analysis, directories of African investment information, rules and regulations, general updates on statistics, business data and investment incentives, among others.
TRADAR Club members will also be invited to trade and investment missions and exhibitions.