Media ININ Economy We Trust
Abu Dhabi 08-09-2019
The United Arab Emirates (UAE) will participate in the 4th China-Arab 2019 Exhibition and Conference, which will be held in Yinchuan, north China’s Ningxia, and will conclude tomorrow.
HE Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs, represented the State in the exhibition.
The current edition of the exhibition, which opened on the fifth of this month under the title “new opportunities and a new future”, and includes a number of distinguished events, including the summit of industry and trade between China and the Arab countries and forums and conferences on the areas of trade and investment, infrastructure, logistics, agriculture, science and technology and tourism And others.
His Excellency Al-Saleh participated in a speech during one of the main sessions of the conference, during which he talked about ways of developing mutual trade with the People’s Republic of China at the bilateral level with the UAE and also at the Arab level, outlining a number of vital sectors of common interest and promising opportunities for huge development partnerships between the two sides.
He explained that the Sino-Arab economic and trade relationship is historical. It is rooted in the first international trade route known to mankind, the ancient Silk Road.
“With the joint and continuous efforts of both sides to promote and develop these relations, we look forward to a more prosperous and sustainable future of joint cooperation,” he said.
Al Saleh stressed that the Arab countries are continuously working to develop their production capacities as production is the main pillar of any economic development, and the world is witnessing a rapid acceleration in the use of advanced technology, Internet of things, artificial intelligence and applications of the Fourth Industrial Revolution in production and the use of blockchain in production processes and improve No doubt, China, with its advanced technology and leadership in the field of the Internet and the fifth generation of communication networks, makes this partnership stronger and in the interest of both parties, it opens wider prospects for Chinese products and new markets for its products and in the It serves development plans in Arab countries.
He pointed out that on the bilateral level, the UAE and the People’s Republic of China enjoy distinguished bilateral relations, especially on the economic and trade levels, which is clearly reflected in the growing trade exchange rates between the two countries, as China is the first non-oil trade partner of the UAE for the fifth year in a row. The volume of non-oil trade between the two countries exceeded the barrier of 43 billion US dollars in 2018, and China is the largest exporter of goods to the UAE, with an estimated share of 15.5 percent of the total imports of the UAE and the value of 38 billion dirhams, while China ranks tenth as importer of China’s imports from the UAE amount to US $ 1.4 billion.
On the Arab level, the UAE is China’s most important trading partner in the Arab world, accounting for 29.2 percent of China’s total non-oil trade with Arab countries, and the UAE accounts for about 11.6 percent of the total Arab non-oil exports to China.
His Excellency added that these distinguished economic relations between the Arab countries in general and the UAE in particular with China, translate the mutual desire to explore more opportunities to upgrade, support and consolidate this distinguished partnership, and open new paths of cooperation in various economic and development sectors.
His Excellency put forward a number of sectors that are the focus of interest of both parties and bear investment and development opportunities that will move Sino-Arab economic and trade relations to broader horizons and achieve mutual benefit.
He presented detailed proposals for projects in about 11 sectors, namely: Cooperation in the field of developing relevant technology in the agricultural sector, increasing the agricultural area in the Arab countries, and participating in research and development projects in agricultural production, especially in reducing water consumption in this sector, as well as in improving the quality of agricultural crops. And increase its output.
Second, cooperation in the field of developing solutions for the production of potable water, where most Arab countries suffer from scarcity in water resources.
Third: Cooperation in the field of entrepreneurship and startups and innovation, and support the growth of these startups, whether in the expansion of markets or open areas of investment in them, and the establishment of mutual funds to invest in these startups and innovative projects.
Fourth: Cooperation in the field of financial services, finance, insurance, financial services technology, financing of infrastructure projects and opening the way for public-private partnership projects, in addition to cooperation in the field of Islamic economy.
Fifth: Cooperation in the field of tourism. Ones in invigorating relationships.
Sixth: Cooperation in the field of food industries and halal foods.
Seventh: Cooperation in the field of education, human resources development and qualification for the labor market.
Eighth: Cooperation in the field of medicine, health care and recreation.
Ninth: Cooperation in the field of energy, renewable and clean energy.
Tenth .. Cooperation in the field of logistics, warehousing, distribution, marketing, shipping and management of ports and airports.
Eleven: Industry cooperation and the introduction of advanced technology in manufacturing to increase the competitiveness of products.
At the end of his speech, HE stressed that in light of the regional and international economic challenges we are witnessing today, upgrading the paths of economic partnership is the closest path to achieving the well-being of our peoples and ensuring the sustainability of growth.
