Dubai: Abu Dhabi-based carrier Etihad has agreed to cooperate with a major Chinese holding company on air logistics, procurement, and mutual promotion, it said in a statement on Friday.
The memorandum of understanding (MoU) was signed by Etihad Aviation Group (EAG) chief executive Tony Douglas and Jiangsu Provincial Overseas Cooperation and Investment Company (JOCIC) chairman Luo Hua, during Chinese President Xi Jinping’s three-day state visit to the UAE.
The companies said they plan to cooperate on a wide range of issues supporting the development of the China-UAE Industrial Capacity Cooperation Demonstration Park (China-UAE Industrial Park) in Khalifa Port, Abu Dhabi.
Last year, Abu Dhabi inked an investment deal worth $300 million (Dh1.1 billion) with five Chinese companies via JOCIC.
According to the announcement, the MoU states that Etihad will provide the companies investing in the China-UAE Industrial Park with preferred air transportation and cargo rates on the routes and services between China and other cities on Etihad Airways’ entire network. JOCIC and the companies of the China-UAE Industrial Park will also designate Etihad Airways as their preferred airline.
Under the agreement, EAG and JOCIC, the management company of the China-UAE Industrial Park, say they will jointly explore marketing opportunities in China and the UAE, while seeking to promote the China-UAE Industrial Park, and pushing Abu Dhabi as a welcoming destination for Chinese investment.
In addition, EAG will enjoy special rates on the products produced and manufactured by Chinese companies at the China-UAE Industrial Park.
Etihad CEO Tony Douglas said in a statement: “China is a strategically important market for Etihad. We feel extremely honoured to forge such a strategic partnership with JOCIC so as to serve the development of the China-UAE Industrial Capacity Cooperation Demonstration Park, and better foster the Chinese companies within the industrial park.”
