His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and His Excellency Li Keqiang, Premier of the State Council of the People’s Republic of China, attended part of the activities of the UAE-China Business Forum, which concluded today (Thursday) in Dubai. The forum was organised by Dubai Chambers in cooperation with the China Chamber of Commerce for Import and Export of Electrical and Mechanical Products, and hosted by the UAE Ministry of Economy and the Ministry of Commerce of the People’s Republic of China.
The forum was organised on the sidelines of the official visit of His Excellency Li Keqiang, Premier of the State Council of the People’s Republic of China, to the UAE. The forum attracted more than 300 participants to discuss ways to enhance economic and trade relations and stimulate joint investments between business communities in both countries, coinciding with the celebration of the 40th anniversary of the establishment of diplomatic relations between the United Arab Emirates and the People’s Republic of China.
His Highness was accompanied during the forum by His Excellency Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs; His Excellency Abdullah bin Touq Al Marri, Minister of Economy; His Excellency Abdul Aziz Abdullah Al Ghurair, Chairman of Dubai Chambers; His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; His Excellency Hussain bin Ibrahim Al Hammadi, UAE Ambassador to the People’s Republic of China; and a number of businessmen.
Shared vision
On this occasion, His Excellency Li Qiang delivered a speech during the forum, in which he said: “The forum’s work builds on decades of prosperous Chinese-Emirati relations and aims to look to the future and shape a prosperous tomorrow with the UAE, in line with the aspirations of the two friendly countries.”
His Excellency the Premier of the State Council of the People’s Republic of China added: “There are promising prospects for the development of Chinese-Emirati relations in light of the development of the bilateral partnership at various levels, as the “UAE-China Business Forum” is an important platform for enhancing the economic, trade and investment partnership, by providing more opportunities for the business communities on both sides.”
Stressing that the two friendly countries have a strong desire to explore ways and means to ensure growth and cooperation covering a wide range of sectors that are in line with our common goals.
Common historical relations
His Excellency Abdullah bin Touq Al Marri, Minister of Economy, stressed that the UAE and China share historical and strategic relations based on continuous development and fruitful cooperation in all fields, especially economic and investment, thanks to the support and guidance of the wise leadership in the two friendly countries, and their keenness to enhance the prospects of joint bilateral relations, in a way that meets the aspirations of their peoples, and supports the growth and sustainability of their economies. His Excellency pointed out that the two countries present a distinguished model of economic partnership and constructive cooperation in stimulating mutual investments and enhancing the growth of the businesses of Emirati and Chinese companies operating in the markets of the two countries.
In his speech at the forum, His Excellency said: “We view the Chinese business community as an important economic partner for the business sector in the UAE, as the total number of Chinese companies operating in the country’s markets has reached nearly 15,500 companies so far. We are confident that the common denominators in the visions and strategies for expanding into the new economy sectors will enhance the future of economic and investment relations and push them towards more advanced and prosperous levels.”
His Excellency added: “The China-UAE Business Forum represents an important platform for promoting bilateral economic and investment cooperation, supporting joint work to develop more fruitful partnerships and agreements at the level of the public and private sectors, and enhancing the benefit of Emirati and Chinese companies from the various economic and investment opportunities in the markets of the two countries, especially since the UAE and China enjoy promising economic components and a vital geographical location that enhances access to strategic markets in Asia, Africa and Europe.”
New economic model
His Excellency Bin Touq briefed the forum participants on the new economic model of the UAE and its role in supporting the achievement of the economic goals of the “We the Emirates 2031” vision, as well as the developments in the country’s economic legislative environment, including the issuance of new laws and policies that have enhanced the UAE’s attractiveness to foreign direct investment and supported the competitiveness of the national economy regionally and globally. In this context, His Excellency Bin Touq invited Chinese companies to benefit from the capabilities available in the UAE business environment and expand their businesses in many vital economic sectors in the country, especially tourism, aviation, circular economy, financial technology, e-commerce, infrastructure, artificial intelligence, healthcare, smart transportation and sustainable manufacturing.
His Excellency pointed out that the tourism sector is one of the main axes in the areas of economic cooperation between the two countries, which is witnessing continuous growth in various activities related to this vital sector, as the total number of Chinese tourists in the UAE reached nearly 1.2 million tourists in 2023, with a growth rate of 213% compared to 206,382 tourists in 2022, and the number of flights between the two sides reached 44 flights per week via the UAE national airlines.
Strategic Partner
In his opening remarks, His Excellency Abdul Aziz Abdullah Al Ghurair, Chairman of Dubai Chamber, stressed that China’s ranking as the UAE’s top trading partner is an important indicator of the growing status of relations between the two countries. He pointed out that given the growing importance of the Chinese market and its position as a strategic partner, Dubai Chamber International has opened three external offices in China in Shanghai, Shenzhen and Hong Kong, the highest number of offices in a single country. These offices are gateways to boost investments between the two sides and support trade exchange in a way that serves common interests.
His Excellency added: “Our commitment at Dubai Chambers to supporting the Chinese business community is limitless. Last month, we successfully organised the Dubai Business Forum in the Chinese capital, Beijing, with the attendance of 800 investors and businessmen from both sides. This forum reflects our vision of China as an important strategic partner in our future plans.”
Al Ghurair concluded by saying: “In a reflection of the strength of bilateral relations between the two sides, the total number of active Chinese companies registered as members of the Dubai Chamber of Commerce by the end of last August reached 5,480 companies, including 1,004 new companies that joined the Chamber’s membership during the first eight months of this year.”
Dialogue sessions
The forum featured 4 panel discussions with 20 speakers from UAE and Chinese officials and businessmen, led by His Excellency Mohammed Ali Rashid Lootah, Director General of Dubai Chamber, who delivered the opening speech. The sessions addressed the role of sovereign wealth funds in developing investments and joint projects, the importance of developing partnership frameworks in the energy sector, and ways to enhance mutual investment and trade opportunities. They also featured examples of Dubai companies that have successfully expanded their businesses and partnerships in China, as well as Chinese companies that have benefited from the business growth opportunities provided by the emirate.
In line with its keenness to strengthen bilateral relations with China, Dubai Chambers organised the Dubai Business Forum – China last August, the first international edition of the event outside the Emirate of Dubai. The event attracted 800 of the most prominent businessmen, investors and officials of Chinese companies who learned first-hand about the exceptional opportunities that the Dubai Economic Agenda (D33) abounds in, in addition to high-level participation from government agencies and private companies from the emirate.
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