Business | Economy
China and Dubai seek to boost trade
A 100-member delegation from the Chinese city of HangZhou will visit Dubai to meet government and business leaders at the HangZhou-Dubai Economic Cooperation Forum.
- Staff Report
- Published: 00:11 May 4, 2008
Dubai: A 100-member delegation from the Chinese city of HangZhou will visit Dubai to meet government and business leaders at the HangZhou-Dubai Economic Cooperation Forum.
The initiative follows the recent visit of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to China.
Co-hosted by the Dubai Chamber of Commerce and Industry, the half-day forum, due tomorrow at the Shangri-La Hotel in Dubai, will be attended by Wang Guoping, chairman of Hangzhou Municipal Congress, and Gao Yushen, the Chinese ambassador to the UAE.
Ahmad Bin Byat, secretary general of the Dubai Executive Council, will be present to announce Dubai's interest in closer economic cooperation with HangZhou. The forum will include interactive industry specific seminars.
Located on the Yangtzi River delta area, Hang-Zhou, capital of Zhejiang province, is one of 15 vice-provincial level cities in China. With a per capita GDP of $8,063, it is ranked eighth among 659 Chinese cities.
The forum will host industry workshops that will be facilitated by representatives from HSBC and PricewaterhouseCoopers, drawing delegates from HangZhou in sectors such as service outsourcing, construction, manufacturing and IT.
Opportunities
The forum will continue to channel the flow of trade between the two destinations, highlighting potential opportunities in various industries. It will enable the Chinese delegation to hold exploratory discussions with Dubai's business decision-makers, to pave the way for further said ambassador Gao.
Dubai currently serves as the regional headquarters for an estimated 888 Chinese companies, with Chinese investment in the UAE currently standing at Dh1.1 billion.
While the UAE's total investment in China is now estimated at Dh3.7 billion, various organisations showed keen interest to channel more investments in the Asian giant.
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