ABU DHABI: Trade and investment relations between the UAE and the People’s Republic of China are witnessing rapid growth under the comprehensive strategic partnership between the two countries, said Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs.
He pointed out that there were many indicators that reflect the strength of this partnership. China is the largest trading partner of the UAE in 2017 with a total trade exchange of about US$53.3 billion and a growth rate of 15 per cent over 2016 as the UAE accounted for 30 per cent of China’s total exports to countries and 22 per cent of the total Arab-Chinese trade during 2017.
Al Saleh held two separate meetings, at the Ministry of Economy headquarters in Dubai, with two trade delegations from the People’s Republic of China, where the parties discussed the incentives and advantages of the economic and trade environment in the UAE.
Al Saleh received a delegation from the All-China Federation of Industry and Commerce, ACFIC, where he stressed that strengthening the economic partnership with China and enhancing trade and investment ties between the two countries at the level of the private sector is one of the priorities of the UAE government.
He pointed out the importance of benefiting from this positive atmosphere to expand trade cooperation and establish sustainable investment partnerships and projects in vital sectors, especially manufacturing, innovation, technology and infrastructure, indicating promising opportunities in areas such as petrochemicals, aluminium and others.
Al Saleh also met with a delegation from the China Chamber of International Commerce of the China Council for the Promotion of International Trade, where he discussed opportunities for partnership and trade cooperation.
The two sides discussed the importance of introducing the Chinese business community to the elements and incentives of the investment environment in the UAE, the most promising sectors, supporting legislations, business practices and the most important opportunities for cooperation.