Media ININ Economy We Trust
29-04-2019 Abu Dhabi\ media in
During his meeting with a delegation from China’s Liaoning Province, headed by Qin Kufa, secretary of the Chinese Communist Party in the province, he discussed the fields and opportunities of economic, trade and investment cooperation between the UAE and China in general and Liaoning Province in particular.
During the meeting, which was held at the ministry’s headquarters in Abu Dhabi, he stressed that the trade, economic and investment relations between the two friendly countries are witnessing continuous growth with the support and encouragement of the two countries’ leaderships in a way that achieves their common interests.
He pointed to the great development witnessed in the relations between the two countries in the last few years, especially in the sectors and areas vital and important and the creation of new strategic partnerships in areas of common interest and to serve and strengthen their development plans.
He stressed the importance of increasing the fields of joint investments and trade exchange and strengthening the ties between the business community in both countries through exploiting the promising investment opportunities in both countries.
He referred to the historic visit made by HE Xi Jinping, President of the People’s Republic of China, to the UAE last July, during which the two countries signed several agreements, memorandums of understanding and joint projects, all of which are in the interest of strengthening the relations between them and strengthening the strategic partnership. Bilateral cooperation and opening new horizons for joint action in various sectors.
He noted that the agreements covered many vital areas of the two countries, including industry, e-commerce, cooperation at the China International Import Fair, tourism, health care, education, aerospace, aviation, financial services, energy and renewable energy.
He referred to the important visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai to China, and his attendance at the “Forum of the Belt and the Road to International Cooperation” recently. He noted that His Highness’s visit and the discussions with the Chinese President and Vice- Is a very important step on the road to consolidating the friendship and cooperation between the UAE and the People’s Republic of China.
He pointed out that the figures and statistics reflect the development and strength of the relations of the two countries as non-oil trade between the two countries grew by a large amount of 30 billion US dollars in 2011 to more than 50 billion dollars in 2018, including free trade areas, making China the largest trading partner For the United Arab Emirates in the region.
He noted that the UAE hosts a large Chinese community living and working in the country safely and well. The Chinese community has contributed to the development process witnessed by the country. The number of Chinese companies operating in the UAE is more than 4000 companies, including free zone companies. Nearly 300 commercial agencies and 5,000 trademarks with the Ministry of Economy.
And highlighted the attractive investment environment enjoyed by the UAE and reinforced by a modern economic legislation system and modern infrastructure including huge airports and ports with great capabilities and a network of roads is one of the newest in the world and other features that make the UAE the first transit gateway for Chinese companies and products to the East Middle East, North Africa and Pan African continent, noting that 60 percent of Chinese products entering the Arab world pass through the UAE.
He said that the UAE economy is the second largest Arab economy and is steadily expanding its position as it expands its production base based on the policy of economic diversification, where oil currently accounts for 30 percent of the country’s gross domestic product, pointing to efforts to shift to a knowledge-based and innovative economy.
For his part, the head of the Chinese delegation stressed his country’s keenness to enhance its cooperation and develop its relations with the UAE in all fields, including investment, trade and economic in general.
He praised the remarkable development witnessed by the UAE and its many attractive commercial and investment opportunities in many fields. He encouraged many businessmen, investors and Chinese companies to take the UAE as a base and to expand into the regional markets.
He pointed to the areas and horizons of cooperation between the two countries in important sectors, including oil, petrochemicals and mining. He pointed out that Liaoning Province has great capabilities in the field of oil refining, petrochemical industries and mining.
The meeting was attended by a number of officials from the Ministry of Economy and the delegation accompanying the Chinese official.
