Other BriefingsUAE-China Bilateral Trade Expected To Reach US$200 billion by 2030
UAE and Chinese business leaders have been hosting an event at the Dubai Multi Commodities Centre to observe China Business Day and celebrate the growing commercial ties between UAE and China.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers said: “The UAE represents one of the strongest economies in the region and as a natural partner of the Belt and Road Initiative, it has risen as a prominent global gateway for Chinese businesses, particularly with its unparalleled logistics infrastructure and position along the New Silk Road.
“China has always been a market of strategic importance to Dubai and the mutual investments between the two countries continue to witness strong growth in various economic and commercial sectors. Through the extensive efforts and support of organisations like DMCC, we look forward to continued collaboration and seeing the relationship between our countries thrive and prosper even more. We look forward, through our international offices, to strengthen the trade ties between Dubai and China and attract foreign direct Investments in line with the objectives and goals of the Dubai Economic Agenda (D33).”
As a leading global trade hub, the DMCC offers businesses unprecedented growth opportunities through its world-class infrastructure, products, services and facilities. Today, DMCC is home to more than 750 Chinese companies, equating to well over 12% of all Chinese businesses registered in the UAE.
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, added: “As the UAE’s primary trade partner, our relationship with China grows and matures every day to the extent that our bilateral trade is expected to reach US$200 billion by 2030. This demonstrates the UAE’s significance as a major hub for Chinese businesses to access some of the fastest-growing markets around the world, acting as a vital gateway for Chinese trade.”
He added: “In providing a platform for Chinese businesses to establish a foothold in Dubai and expand their international presence, DMCC has been instrumental in bolstering economic ties between the UAE and China.”
Wu Yi, Economic & Commercial Counsellor, Consulate General of the People’s Republic of China in Dubai, added: “Over the past few years, the China-UAE relations have been growing from strength to strength – from deep political trust and booming economic cooperation to people-to-people and cultural exchanges coming to the forefront. In fact, China-UAE bilateral trade in 2022 reached record highs despite the impact of the pandemic, reflecting the strong vitality of the mutually beneficial cooperation between the two countries. I would like to extend my appreciation to Dubai Chambers and DMCC for supporting the growth of this relationship and I am confident that such events will help it prosper even further.”
Dezan Shira & Associates maintains an office in Dubai and has 13 offices in China. To discuss UAE-China trade and investment please contact Maria Kotova at dubai@dezshira.com
Our complimentary 2023 Guide to Doing Business in China can be downloaded here and our 2023 Guide to Doing Business in Dubai can be downloaded here.
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Middle East Briefing is one of five regional publications under the Asia Briefing brand. It is supported by Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm that assists foreign investors throughout Asia, including through offices in Dubai (UAE), China, India, Vietnam, Singapore, Indonesia, Italy, Germany, and USA. We also have partner firms in Malaysia, Bangladesh, the Philippines, Thailand, and Australia.
For support with establishing a business in the Middle East, or for assistance in analyzing and entering markets elsewhere in Asia, please contact us at dubai@dezshira.com or visit us at www.dezshira.com. To subscribe for content products from the Middle East Briefing, please click here.
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