UAE-China Business and Investment Forum explores prospects for trade

Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held constructive talks with the Commerce Minister of the People’s Republic of China, Wang Wentao, over high-growth sectors on the closing day of the UAE-China Business and Investment Forum, which took place during the two-day state visit by President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the People’s Republic of China.

The ministers discussed prospects for stimulating growth in bilateral and mutual trade and investment, in addition to new horizons and areas available for investment in high-growth sectors.

Mohamed Hassan Alsuwaidi, Minister of Investment, Dr Thani bin Ahmed Al Zeyoudi, and Ling Ji, Vice Minister of Commerce, addressed the event.

During the forum, 12 agreements and memorandums of understanding were signed and exchanged between Emirati and Chinese companies and entities in a wide range of priority areas such as aluminium, communications, iron and steel, financial services, aviation, free zones, industry, and others.

Alsuwaidi highlighted China’s growing investments in the UAE, which rose 16 per cent in 2023 to $1.3 billion, accounting for 60 percent of the total value of China’s investments in Arab countries. Meanwhile, Dr. Al Zeyoudi said that UAE-China non-oil trade value, which reached $81 billion in 2023, is expected to surpass $200 billion by 2023.

More than 70 participants participated in the forum from the Emirati side, including senior government officials from federal and local entities, in addition to representatives of a number of major Emirati companies operating in various sectors, including logistics services, industry, energy, technology, health care, environment, agriculture, food security, and financial services.

Discussions during the forum included exploring promising opportunities in sectors expected to achieve significant growth, with a particular focus on information and communications technology, manufacturing, financial services, logistics, and energy.

The forum was held as part of the agenda of events organised to mark the 40th anniversary of the establishment of diplomatic relations between China and the UAE.

Meanwhile, the UAE Ambassador to the People’s Republic of China Hussain bin Ibrahim Al Hammadi has emphasised the robust and deep-rooted ties between the UAE and China, which have grown significantly since their establishment in 1984.

These relations, strengthened under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Xi Jinping of China, evolved into a comprehensive strategic partnership in 2018, covering economic, commercial, cultural, political, and diplomatic areas.

Al Hammadi remarked, “We are entering a new era of bilateral relations. Sheikh Mohamed bin Zayed Al Nahyan’s visit to China holds historic significance, presenting opportunities to further advance economic ties, support initiatives like the Belt and Road, and enhance cooperation in key sectors such as renewable energy and infrastructure.”

He noted that non-oil trade between the UAE and China has surged nearly 800-fold since the start of diplomatic relations, reaching $95 billion in 2023, with aims to hit $200 billion by 2030.

Al Hammadi also highlighted the importance of educational and cultural exchanges, strengthening communication and collaboration between the two nations. Initiatives like the “100 Schools Project” promote Chinese language and education in the UAE, creating a foundation for cultural exchange.

He added that UAE citizens in China play a vital role in fostering the comprehensive strategic partnership, acting as cultural ambassadors and promoting UAE values and heritage, thus enhancing mutual respect and understanding.

The ambassador stated that approximately one million Chinese tourists visited the UAE last year, a number set to increase. Similarly, UAE tourists to China are growing, drawn by its diverse geography, climate, and high-quality services.]]>

Meanwhile, Etihad Airways, the national airline of the United Arab Emirates, and Beijing Daxing International Airport of Capital Airport Holding Company, today signed a Memorandum of Understanding at the UAE-China Business & Investment Forum.

The MoU marks a further deepening of the partnership between Etihad Airways and Beijing Daxing International Airport in the aviation sector, opening a new chapter in aviation cooperation.

According to the MoU, the parties will work together to enhance existing frequencies between the United Arab Emirates and Beijing and collaborate on joint marketing and sales activities to promote travel between the two countries.

They will also jointly improve passenger services, and enhance baggage handling and lounge services. Additionally, they will implement cargo development plans to boost cargo transportation efficiency, and share information and collaborate on technology initiatives to improve operational efficiency.

This cooperation will further strengthen Etihad Airways’ global influence, expand its route network, and enhance service levels, while providing new momentum in international aviation cooperation for Beijing Daxing International Airport, consolidating its position as a major aviation hub.

Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said, “This MoU signifies more than just a cooperation between airline and airport; it marks a closer connection between the UAE and China. We look forward to promoting cultural exchanges and driving economic growth through this cooperation.”

Kong Yue, Vice President, Beijing Daxing International Airport of Capital Airports Holdings, stated, “This cooperation will open a new chapter in the aviation sector between the Middle East and China. It is a model for promoting China’s Belt and Road Initiative, and also contributing to achieving Abu Dhabi’s 2030 Vision, further strengthening economic, trade, and cultural ties between the two countries.”

WAM