$6 bn in Chad investment deals inked at UAE forum: Minister

The United Arab Emirates (UAE) has successfully concluded a series of investment agreements with Chad, potentially exceeding $6.2 billion, as announced by UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi during the two-day UAE-Chad Trade and Investment Forum in Abu Dhabi. The event, which saw the participation of numerous entities and companies from Chad, resulted in approximately 40 deals aimed at fostering economic growth and stability in the central African nation. Chad officials also utilized the forum to unveil a national development plan targeting $30 billion in investments. The UAE has been a significant investor in Africa, with over $110 billion committed between 2019 and 2023, making it the largest backer of new projects on the continent. Additionally, a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Chad is expected to be finalized by the end of the year, following a 32 percent increase in non-oil trade to $1.9 billion in the previous year. The forum comes amid concerns over an influx of Sudanese refugees into Chad due to ongoing conflict in the region.