Madagascar attempts to attract Emirati investments to face the threat of fees

Madagascar seeks to promote United Arab Emirates investments to stimulate growth in tourism and energy sectors, a partnership that has become more urgent because it holds high customs duties through the United States. In April, US President Donald Trump threatened to impose mutual customs of 47%, which is the highest worldwide on the island state in the Indian Ocean, but he decided to replace these definitions with a general fee of 10%. Most countries have given a deadline until July 8 to reach an agreement or to face the fees again. Bloomberg’s data shows that the United States is the third largest trading partner for Madagascar to China and France, with a total of $ 822 million in 2024. The Minister of Madagascar Trade David Ralmanpoverringa said during an interview in Dubai that his country, the largest vanilla producer in the world, Trading in the trade balance to the trading bar to the trade bar to the trade bar to the trade balance comes to the trade balance to the trade balance, to the trade balance, to the trade bar to reach the trade bar. ‘Shocking’, which has urged the African country to attract investments from countries such as the Emirates. The UAE strengthens its influence in Africa, the United Arab Emirates still conclude transactions and gives investment promises in Africa to increase its influence and diversify its sources of income away from oil. During the year 2023, the rich golf state was the most pump in investment capital in Africa, and its investments amounted to $ 44 billion, according to a report issued by Ernst and Young. Last year, the Sovereign Fund in Abu Dhabi (ADQ) agreed to invest $ 35 billion in Egypt, most of which will develop major countries at the Mediterranean coast of the country in North Africa (Race Al -Hikma). Big Emirati investments on the road said Rallybovirina said Madagascar and the UAE are talking about possible investments in sugar and vanilla factories and luxury hotels to support the goal of attracting one million tourists and energy projects to meet the growing demand through the growing population. “We need the land, ideas and human capital, but we need investment partners.” Madagascar is engaged in talks with Emirates Airlines, one of the largest airlines in the world, to start direct daily flights between Dubai and Antananarivo, the capital, a step that will increase air freight trade. The embassy of Madagascar soon in Abu Dhabi, Madagascar and the Emirates signed an economic partnership agreement earlier this year to facilitate trade, and the state plans to open an embassy in Abu Dhabi within the next few weeks. Minister Ralmanpoferringa said the UAE is not just a new commercial road, but rather a platform that can help the island state to communicate with other markets.