UAE And China Maintain Growing Trade, Economic, Investment Partnership, Says MoE Official
The UAE and China maintain growing trade, economic and investment partnership, making China the second largest trading partner to the UAE, according to Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs, Ministry of Economy.
''This constructive partnership was clearly evident in trade figures that showed non-oil foreign trade reached US$ 48 billion in 2015.
China is a major exporter to the UAE market and third of China trade to the GCC passes through the UAE logistics facilities,'' Al Kait said on the occasion of the opening of the 4th edition of China Trade Week 2016 at the Abu Dhabi National Exhibition Center.
He said the UAE was among the first supporters of the China’s One Belt, One Road initiative, which China launched three years ago as comprehensive framework for organising multinational economic development and trade.
Ni Jian, Chinese Ambassador to the UAE, opened the event which is supported by the Ministry of Economy.
China Trade Week will feature over 300 Chinese manufacturing companies, creating a unique opportunity to meet, talk and develop the foundations of trading and business relationships. The three-day event showcases products across a variety of industries including arts and crafts, toys and gifts, print, packaging and plastic, power and energy, lighting, home electronics, textiles, fashion accessories, smart electronics, food and beverage, construction and machinery. The event will also feature seminars on ‘How to do business with China’.
Ambassador Jian said foreign direct investment from China to the UAE amounted to $390 million in the first nine months of this year registering a growth of 358 per cent when compared to last year.
He noted that UAE policy's concentration on innovation, knowledge, entrepreneurship, investment in energy and Islamic economy provide encouraging incentives to attract Chinese investors.
He added that currently there are more than 4,000 Chinese companies operating successfully in the UAE.
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