The Democratic Republic of Congo (DRC) is pushing to increase annual exports to the United Arab Emirates (UAE) to $3 billion by 2030 through a free-trade agreement. Julien Paluku, Minister of Foreign Trade, announced the goal at the Annual Investment Congress in Abu Dhabi. 

The move highlights the need to reduce the trade deficit between the UAE and the DRC, which averaged $650 million in 2021-2023. Over the period, Congolese exports to the UAE, mainly refined copper, gold, and diamonds, averaged $1.059 billion yearly, compared to $1.89 billion in imports.

Prime Minister Judith Suminwa set a one-month deadline to finalize the agreement after receiving Abu Dhabi’s tariff proposal.

The Congolese government urges the private sector to seize opportunities from the deal while leveraging other trade frameworks like AGOA, AfCFTA, and deals with the EU and China. The agreement could help balance trade and boost the DRC’s economic growth if finalized.

This article was initially published in French by Ronsard Luabeya (intern)

Edited in English by Ola Schad Akinocho