The Accra office of the Dubai Chamber has expressed its commitment to providing guidance and assistance to members in the textiles and fashion industry that are keen to enter the Dubai market.
Currently, Ghana is fast emerging as a key market for the UAE with several companies in the UAE investing in Ghana, especially in sectors like infrastructure, communication and tourism.
Speaking at a round table stakeholders meeting, the Head of the Dubai Business Chamber in Ghana Cyril Darkwah said, his office is now working on improving investment into the textile manufacturing industry.
He said, "Dubai has a $4 billion textile market which is up for the taking and we think the Ghanaian manufacturers can take advantage of it especially with the challenges they are currently facing with the influx of imported fabrics."
Mr Darkwah said they will be involved in helping the manufacturers and Apparel designers and retailers secure funds from Dubai for expansion and also exporting to Dubai.
The event which brought together Textile manufacturers, Apparel designers, retailers and other stakeholders, highlighted the wealth of opportunities to be availed by building bridges between business communities in Dubai and Ghana.
Deliberating on the issues, the textile manufacturers indicated interest in expanding beyond the Ghana market.
The Head of Marketing for GTP Steven Badu said, "unfortunately our model has been focused on serving the local market but in the wake of the new developments we are upgrading our infrastructure and systems going digital so we can export.”
Mr Badu also called for more support to allow easy processing of their goods for export.
President on the Ghana Apparel Association also said "serious attention needs to be paid to the industry, not just lip service because it’s a very high capital investment and the returns are equally good.
Ghana bilateral non-oil trade beyond the $1.2 billion accounted for in 2017. Retail, fashion and textile are among the key sectors where bilateral trade and investment flows can be increased, as these areas have grown significantly in both markets over the last few decades.
Meanwhile, Dubai remains the most attractive market in the Middle East region for retailers, with many using the emirate as a ‘launch pad’ for regional expansion.
Over the next few years, a significant amount of retail space will be added in Dubai as the emirate gears up to host Expo 2020 and accommodate 20 million visitors per year by that timeframe. These plans are creating plenty of business opportunities that Ghanaian retailers can benefit from.