Abu Dhabi: The governments of UAE and China on Friday signed a memorandum of understanding (MoU) concerning joint cooperation on the Silk Road Initiative and the 21st Century Maritime Silk Road Initiative.

Inked by Dr. Sultan Bin Ahmad Sultan Al Jaber, Minister of State, and He Lifeng, Chairman of the National Development and Reform Commission, NDRC, during the landmark state visit of President Xi Jinping of China to the UAE, the MoU will contribute to facilitating exchange and integration of commodities, technology and capital through mutual education and cooperation.

It will also advance concerted development and joint progress in areas of economy, community, environment and other sectors.

''The MoU is a clear indicator of the strong ties between the UAE and China and underscores the commitment of leaderships in both friendly countries to further consolidate their joint action to serve mutual interests and interests of the region and the world as well,'' Dr. Al Jaber said.

''The MoU reflects the longstanding friendship between the UAE and China as well as cooperation and ambition of the governments in several fields,'' he stated.

The agreement underscores the political will of the Emirati and Chinese leaderships to jointly promote the Belt and Road Initiative with the aim of elevating the spirt of the Silk Road for peace, openness and mutual education and cooperation in a manner that serves mutual interests.