Page 485 - MOE ENGLISH PR REPORT - JULY 2024

The state-of-the-art facility, which is located in the northern city of Boundiali, is
owned and operated by Pan African Agro Commodities Holding Limited

(PAACH), an entity incorporated in the Abu Dhabi Global Market (ADGM) that
seeks to promote West Africa’s domestic agriculture sector and support the
development of its key exports.

Côte d’Ivoire is one of the top five exporters of cashews globally, with around
80 percent of its annual production sold to overseas markets.

Cashews are also Côte d’Ivoire’s second-most important export product,

contributing 9 percent to the nation’s GDP. With a daily processing capacity of
100 metric tonnes, the facility is expected to create 500 direct and 3,500
indirect jobs and enhance the country’s role in global supply chains.

In remarks delivered at the launch ceremony, Al Zeyoudi said the facility is an

embodiment of the UAE’s commitment to West Africa and expressed his
optimism for the future of relations between the UAE and Côte d’Ivoire.

"The opening of this impressive cashew-processing factory underlines the

UAE’s belief in the economic potential of Côte d’Ivoire, and offers a
compelling model for further investments into the region as a whole. This is
one of the most dynamic economies on the continent, one that is adopting
bold economic policies and ambitious reforms designed to deliver sustained,
diversified growth. We envision huge potential for private-sector collaboration

between our nations as we support the development of Côte d’Ivoire’s
industrial, agricultural and supply chain capabilities.

"My visit this week marks an important step in strengthening the economic

partnership between our two countries, which I look forward to building on in
the years ahead.”

In his remarks at the inauguration, Abdul Jabbar Al Sayegh, Chairman of the
Board of Directors of Pan African Agro Commodities Holding Limited, stressed

that Côte d'Ivoire is a country rich in potential.

https://en.aletihad.ae/news/uae/4500237/thani-al-zeyoudi--c%C3%B4te-d-ivoire-prime-minister-
inaugurate-ua