UAE and China agree to establish sustainable trade and investment partnership

Media In – Abu Dhabi, July 21, 2018
The UAE and the Republic of China have agreed to establish a comprehensive strategic partnership that will deepen cooperation in all fields and promote development and prosperity in accordance with the common interests of the two countries and their friendly peoples.
In a joint statement issued today on the establishment of the comprehensive strategic partnership between the two countries, the two countries affirmed their keenness to deepen cooperation within the “Belt and Road” initiative to establish sustainable trade and investment partnership.
The two sides praised the steady growth in the volume of trade exchange, stressing their keenness to enhance trade exchange and integration by maximizing the benefit of the distinguished infrastructure and the strategic position of the UAE as a major investment and commercial gateway to the Middle East and the world markets.
They also stressed the importance of further strengthening cooperation in the economic and trade fields, full employment of the role of the Sino-UAE Joint Economic and Trade Committee and the mechanism of exchanging visits between businessmen and other platforms and mechanisms of economic and trade cooperation.
The two sides are keen to further facilitate trade and investment and push forward the cooperation in trade processing and work together to build a free trade area and create a more stable and transparent economic and trade environment.
They also agreed to enhance cooperation in e-commerce, coordinate policies, share experiences, enhance inter-firm communication, conduct specialist training, develop cross-border electronic commerce and push forward the continuous and stable development of bilateral trade through e-commerce cooperation.
The two sides are keen to continue to deepen cooperation in production capacity and improve the implementation of the framework agreement on enhancing cooperation in the fields of production capacity and investment between the two governments. The two sides support the construction of the model garden of China-UAE cooperation in production capacity, “Packages and the Road”.
To enhance the role of the private sector in deepening their economic cooperation through the optimal employment of the UAE-China Business Commission and other platforms to explore opportunities and build partnerships in various economic sectors, mainly logistics, transport, industry, technology, artificial intelligence and energy. Renewable energy, food security and business between the two countries and between companies, associations and commercial agencies, and providing training for SMEs to enhance their contribution to economic activity.
The two sides express support for the establishment of banking institutions of the two countries to open their branches on the other side and to conduct business on the basis of compliance with relevant laws and rules of supervision and management in each country and provide financial support for bilateral trade and investment cooperation and enhance communication and cooperation between the two central banks of the two countries and cooperation between the UAE and Shanghai Stock Exchange