Dubai: China has been Dubai’s top trading partner since 2014, as the emirate has cemented its status as a major regional and global hub for the Chinese market.
Dubai-China bilateral trade hit Dh139 billion in 2018, and was valued at Dh36 billion over the first quarter of 2019.
Notably, telecoms, phones, PCs, aluminium, gold, automobiles, and engines topped the list of most traded commodities between Dubai and China.
In a statement released by Dubai Customs in conjunction with the milestone visit of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, there are as many as 876 active Chinese businesses currently registered with Dubai Customs, including 623 firms holding trade license, 244 licensed free zone establishments, and 9 companies with professional license.
Dubai Customs said that this visit by Sheikh Mohamed Bin Zayed to China further reinforces strategic partnership between both countries through the signing of various bilateral trade agreements. During the visit, a Mutual Recognition Agreement between the UAE Federal Customs Authority and the General Administration of Customs of the People’s Republic of China, GACC, was signed for the implementation of the Authorised Economic Operator (AEO) program. This is will particularly boost partnership between China and UAE on the Belt and Road plan, the giant global economic project in which the UAE is a key partner.
Dubai Customs is already utilising some of China’s most advanced, state-of-the-art screening and inspection technology to scan containers, goods, vehicles and passengers across its various customs centres in Dubai, including in the flagship Port of Jebel Ali and Dubai International Airport.