UAE-Zhejiang trade hits $16.75 billion in 2024

The United Arab Emirates participated on Friday in the Digital Economy International Cooperation Matchmaking Conference, held alongside the Global Digital Trade Expo in Hangzhou, China.

Speaking at the conference, Muhannad Sulaiman Al Naqbi, UAE Consul-General in Shanghai, said that the UAE is Zhejiang province’s largest trading partner in West Asia, with bilateral trade reaching $16.75 billion in 2024. Trade continued to grow in the first half of 2025, rising 19.8 percent year-on-year to $9.34 billion.

Al Naqbi added that exports of electric vehicles from Zhejiang’s Ningbo port to the UAE surged nearly 272.97 percent in H1 2025 to 3.68 billion yuan, making the UAE the port’s top export market for EVs.

The Consul-General emphasised the UAE’s attractiveness as an investment destination for Zhejiang firms, citing CHNT Group’s establishment of a photovoltaic supply chain in the country to serve regional markets.

He also highlighted the UAE’s position as the most competitive economy in the Middle East, supported by open economic policies, talent acquisition and significant investment in the digital economy.

The UAE currently hosts more than 16,500 Chinese trade licences and about 350,000 Chinese residents.The fourth Global Digital Trade Expo opened on Thursday in Hangzhou, Zhejiang Province, with the UAE taking part as an official Guest of Honour alongside Indonesia.

The opening ceremony was attended by Hussain Bin Ibrahim Al Hammadi, UAE Ambassador to China; Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy and Tourism and head of the UAE delegation; Muhannad Sulaiman Al Naqbi, UAE Consul-General in Shanghai; as well as senior officials, representatives of government entities and national companies.

In his address, Al Saleh underscored the importance of the event in strengthening global economic cooperation, particularly in digital trade, which he described as a driver of growth and sustainable development.

WAM