Beijing (WAM)
Yesterday, the activities of the UAE-China Business and Investment Forum concluded in Beijing, on the sidelines of the “state” visit made by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, to the People’s Republic of China at the head of a high-level delegation.
His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, participated in the forum, along with an economic delegation from the UAE that included senior officials in government agencies, business leaders, and representatives of a group of companies operating in various sectors.
From the Chinese side, a number of senior government officials attended, including Wang Shuri, member of the Standing Committee of Shenzhen, and Chen Xiong, deputy mayor of Chengdu, in addition to representatives of the private sector and major Chinese companies.
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.
Strong partnership
His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, said that the forum highlighted the strong and prosperous partnership that exists between the UAE and China, especially in light of the continuous increase in Chinese investments in the UAE after they rose by more than 16% during 2023 to $1.3 billion, constituting 60% of China’s total investments in the countries. Arabic.
His Excellency added that our investments in energy and infrastructure projects in China support its economic progress, while Chinese investments in technology and renewable energy stimulate innovation in the UAE.
He stressed that the opportunities for cooperation between the UAE and China are limitless, and that the two friendly countries can together pave the way for a brighter and more prosperous future.
Partnership relationships
During his opening speech at the forum, His Excellency Al-Zeyoudi focused on the promising possibilities to advance partnership relations between the two countries to new levels, noting that the volume of bilateral non-oil trade, which recorded $81 billion in 2023 according to UAE statistics, may exceed $200 billion by 2030.
His Excellency said: China is considered our most prominent trading partner in the world, as it represents about one-sixth of our total trade of non-oil goods with the world, while the UAE enjoys a distinguished position as China’s largest trading partner in the Middle East and North Africa region if oil is excluded from its trade. In a related context, His Excellency Thani Al-Zeyoudi held constructive talks with His Excellency Wang Wentao, Minister of Commerce of the People’s Republic of China, and they discussed the factors stimulating strong growth at the level of bilateral and mutual trade and investment, in addition to new horizons and areas suitable for investment in sectors that enjoy high-level growth rates.
Looking forward to the future
In turn, His Excellency Ling Jie, Deputy Minister of Commerce, said that this forum builds on forty years of prosperous Chinese-Emirati relations and its goal is to anticipate the future and shape a brighter tomorrow with the UAE, in line with the ambitions of the two friendly countries.
Consolidation of relations
For his part, Abdullah Mohammed Al Mazrouei, President of the Federation of Chambers of Commerce and Industry in the UAE, said: The issue of strengthening and consolidating our relations with China is a top priority for the UAE, and during the forum’s activities we noticed a strong desire on the part of the participants to explore ways and means to secure growth and cooperation between our two countries.
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More than 70 participants participated in the forum from the Emirati side, including senior government officials from federal and local bodies, 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. .
Agreements
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 fields such as aluminium, communications, iron and steel, financial services, aviation, free zones, industry, and others.
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