12 - 14 Dec 2018

Alkhaleej - Billion trade exchange between the UAE and China 2015

201 مليار التبادل التجاري بين الإمارات والصين خلال 2015

Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, opened yesterday the China Trade Fair in the Middle East at ADNEC.  
Sheikh Nahyan bin Mubarak Al Nahyan stressed the depth of the strategic relations between the UAE and China, pointing out that the UAE is the largest market for Chinese exports in the Middle East and the first trade and economic partner with China.
For his part, Juma Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs, said: "We in the UAE consider the importance of strengthening the partnership with the Republic of China on both the commercial and investment levels, pointing out that that this interest has not come from a vacuum. China is the second largest trading partner of the country, with the UAE accounting for 60% of China's commodity exports to the region.

Al-Kitt said in a speech at the forum that the trade that exchange trade between the two countries (including trade in free zones) reached about 50 billion dollars, equivalent to 183.5 billion dirhams, adding that these figures are likely to develop further in the light of the desire and the common will to strengthen them. There are many opportunities that offer wider prospects for joint cooperation between the two countries.

He pointed out that the interest of the state in attracting foreign investments is not limited to injecting liquidity and capital and creating more job opportunities, but also to the indirect benefits and positive effects of such investments such as transfer of technology, practical, administrative and organizational expertise.

Al-Kit added that the UAE has made great strides in meeting the conditions of sustaining economic growth through its policy of economic diversification and reducing its reliance on oil, which gave it sufficient flexibility to meet the various international economic challenges.

He pointed out that the UAE achieved economic growth of 4.6% last year, despite the decline in oil prices. He expected growth rates to continue in the coming period in light of the activity witnessed by the non-oil sectors of the country, as well as the vision of the State in enhancing the innovation component in different The main economic sectors, in order to achieve the 2021 national agenda in support of the vision of the state in the transition to a knowledge-based economy.
Today, we see more than ever before that there are many opportunities in different sectors for mutual investments between the UAE and China, especially in the sectors of technology, renewable energy, industry, small and medium-sized enterprises and logistics, which supports the goals of the country's sustainable development. Of the promising opportunities to enhance the volume of bilateral cooperation between the two countries through trade and investment partnerships, especially under the initiative of the "Silk Road Economic Belt" and "Silk Road Maritime" recently launched by China , which represents additional support for the system of international cooperation between  The Middle East, Asia, Europe and Africa, across more than 60 countries covered by the initiative.


Al-Kit said that in light of the UAE's advanced infrastructure and attractive business environment, as well as its opening to 220 markets around the world, it is the region the most qualified country to play a vital role and provide added value to the new Silk Road Initiative.

Exclusive platform

Jumah Al-Kait said that the meeting of the China Trade Week in the UAE is becoming an important as a bilateral relations develop.

Vital sectors of trade

For his part, the Chinese ambassador to the UAE expected the volume of trade exchange between the UAE and China to reach 201 billion dirhams ($ 55 billion) by the end of this year. He pointed out that China's imports from the UAE amounted to 734 Billion dirhams is ($ 200 is Billion) the While China apos Exports to The UAE amounted to 30 Billion Dollars.  
of The Chinese Ambassador Said that His Country has exported to The UAE in The Last Ten years About 600 Million Dollars of Petroleum Equipment, and Recently Logs in bought A Chinese Crane to the port of Abu Dhabi worth 20 million dollars.
He pointed out that China's GDP growth in the first half of 2015 reached 7%, which is the fastest growth in the world maintains its stability, referring to the state of volatility in China recently, and this not to only China, but the world as a whole

UAE Focus   on Petrochemicals and Plastics

"We focus on investment in China's petrochemical and plastics industries, in addition to innovation and knowledge sharing. We are also working to attract the most advanced Chinese companies that can support the national economy," said Mohammed Nasser Hamdan Al Zaabi, Director of Commercial Promotion and Investment at the Ministry of Economy.

The opening ceremony was attended by Juma Al-Kait, Undersecretary of the Ministry of Economy for Foreign Trade, Mohammed Al Nuaimi, Assistant Secretary-General of the UAE Federation of Chambers of Commerce and Industry, Zhang Hua, Chinese Ambassador to the United Arab Emirates and senior officials from the Ministry of Economy, the Chinese Commercial Office in Dubai and businessmen.

200 exhibitors

The exhibition is attended by 200 exhibitors from various Chinese industrial and commercial sectors.

The exhibition, organized by the MEEvents Group, will continue until the 9th of this month.  
Chinese exhibitors are looking to enhance networking opportunities and develop large-scale business with regional sales agents or wholesalers and distributors.  
David Wang, managing director of MEEvents, said The exhibition is a business destination in the Middle East, bringing together major Chinese companies, manufacturers and shareholders, creating a unique opportunity to connect, engage, develop business and business relationships.  
The exhibition aims to expand trade cooperation in the region and will provide opportunities to supply new commodity sources and negotiate any trade cooperation in a number of business sectors.

Sharjah Investment and Development Authority (SHARK) reviewed its latest tourism destinations during its participation in the exhibition.

Shorouk introduced its latest destination, including the 45,470 square meter Al Noor Island, the first island combining nature, art and entertainment in the Arab world, and the Malihah Eco and Ecotourism project, which provides provides the visitors with the opportunity to discover a diverse natural life of the region, And to enjoy the facilities and activities organized by tourism, leisure and sports.  
The park, the first water park in Sharjah, has two main sections: the Water Park, which offers a variety of world-class water sports, the amusement park offering a wide variety of electronic games, the Park Adventures, And many other facilities.
The owners of the pavilion said that the latest and most interesting projects are being reviewed, including Al Noor Island, which includes more than 500 different species of butterfly and various plants, and the Melihah Eco and Ecotourism Project, which is unique in its features and activities amid the desert and mountain environment, Of the tourism and entertainment projects of Sharq ».  
Al Noor Island offers a unique combination of scenic nature, arts and entertainment in one destination. The island includes Butterflies House, which contains about 500 butterflies imported from East Asian countries, as well as the Diwan of Arts, an open space for intellectuals and reading enthusiasts. The island includes designs inspired by world famous designer André Heller, who designed the Swarovski Crystal World Museum in Austria

Source:  http://www.alkhaleej.ae/economics/page/de126f76-9ce3-42be-a8cc-b49ba4ab542f

Published: 12/08/15