The food imports in UAE would see an increase of up to $400bn in the coming ten years, compared to $100bn reported in 2014, said UAE Minister of Economy Sultan Al Mansouri.
The country currently exports 85% of its food and is planning to establish farmland in other countries in order to secure food supplies amid increasing demand, Gulf News reported. The region has paucity of arable land.
According to Al Mansouri, the Arab world needs $5bn annually to bridge the difference between demand and production of food.
Al Mansouri was quoted by Gulf News as saying: ""Planning to secure food supply is very important not only for the UAE or Gulf region but for the entire Arab world.
"To boost its food security programme, the UAE has a clear strategic plan to increase its FDI outflows in the agro-food sector, but unfortunately most of the countries that obtain these resources are high risk."
UEA has currently invested in agro-food in countries like Namibia, South Africa and in several Arabic countries including, Tunisia, Morocco, Algeria, Sudan and Egypt.
Meanwhile, Al Mansouri called upon countries that have the potential for agro-food investment to set up an official commission to review all the challenges that delays foreign investments.
