One of the key benefits of the AABF is that it provides
a platform for instantly and effectively matching companies
from within the same industrial sectors, or across the same value chain, with a view to optimizing
the potential opportunities available for business accords
between them.
Another benefit is the potential for better intra-African,
intra-Asian and Afro-Asian business partnerships, given the raw materials
and labour available in the regions which could form the basis for a lot
of low-cost, export-oriented businesses. Leverage of these
relationships would no doubt provide ammunition for more
productive and longer lasting forays into the global economic
market.
For the companies involved, a powerful incentive is the direct
effect on their financial bottom line, from potential agreements, along with the greater
exposure through memberships of global trade organizations.
Some of the greatest successes from the AABF, at
company level, have been the following:
- A joint venture between Kahawa Sukari Ltd, Kenya and M.
K. International, Korea to the tune of USD 25 million over
the next few years, on several building construction projects.
- Another joint venture between Shelys Pharmaceuticals Ltd, Tanzania,
and Pharmaniaga Berhad, Malaysia, also to the tune of USD 25 million
over the next few years, for the manufacture, marketing
and distribution of pharmaceutical products on the East
African corridor.
A more extensive list of these agreements can be found under
the AABF II MOU agreements.
For the countries involved in the AABF, the benefits include a boost
to the local economy, as well as a sustained improvement
on their social and economic agenda.
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