SME Cooperation Forum

UAE-China Forum Takes Place at DCCI

Under the patronage of His Highness Sheikh Hamdan bin Rashed Al Maktoum, Deputy Ruler of Dubai Minister of finance and Industry, the event was held in co-organization of Ministry of Finance and Industry in UAE, Dubai Chamber of Commerce and Industry and The Ministry of Commerce in People's Republic of China.

A high level trade delegation from China headed by Deputy Minister of Commerce consisting of 120 members of officials and businessmen participated in the event specializing in IT, telecommunication, pharmaceutical, civil engineering and construction, petrochemical industry, logistics, manufacturing and trade.

The total volume of bilateral trade between UAE and China is expected to reach US$ 8 billion by the end of this year, according to the official estimation of both sides. The figured is hoped to reach US$ 10 billion by the end of the next year.

The forum aimed at highlighting the facilities and investment opportunities between UAE and China. In addition, to provide the opportunity for the participants to explore the investment and trade opportunities that exist in the commercial, industrial and services sectors in both countries. The participants went through presentations delivered by representative of Dubai Development and Investment Authority (DDIA), Ministry of Commerce in China, Jebel Ali free Zone Authority (JAFZA).

On behalf of His Excellency Dr. Mohammed Khalfan Bin Kharbash, State-Minister of Finance & Industry, Mr. Khaled Al Bustany, the Assistant Undersecretary of the Minster of Minister of Finance & Industry for Revenue and Budget delivered a speech saying that UAE was, since a very long time one of the first countries that adopted the open door economy even before the current global image of economy been created. 'This early method has highly esteemed the regional economic place of our country and made it a pioneer ideal method in the economies of the region,' he stated. 'UAE has paid attention to the issue of investment; so the legal environment has been developed in order to attract and protect the foreign investment.'

UAE is providing the highest international standard of infrastructure and all supportive tools that help establishing huge investments.

The speech of H.E. Wei Jianguo, Deputy Minister of PR. China reflects their keen interest to foster the current friendly relations with UAE. 'Since the establishment of diplomatic ties between China and UAE, bilateral economic and trade cooperation maintains a good momentum and new vitality is continually injected into the progress of Sino-UAE relationships', he said.

'Recent years in particular have witnessed the accelerating of bilateral economic and trade cooperation in more widening sectors. To date, UAE has become one of China's most important trading partners in the Middle East,' he added.