Browse
related articles
HE Mohammed Al Shihhi, Undersecretary, MoE said:
"The 5th meeting of this committee holds a big importance for both sides, given the economic and trade stature of the UAE and China, which are located in two neighboring regions that have strategic and global economic influence. We are mutually striving to leverage bilateral relationships and improving economic ties and increasing exchange of investments."
Al Shihhi added: "The 5th meeting agenda consists of topics targeting joint interest areas such as economy issues, investments exchange and trade as well as ways to leverage the private sector participation in energizing common cooperation".
H.E. Al Shihhi pointed that local departments participating in the meeting, have held separate preparatory congregations aiming at crystallizing a unified national program tackling important issues, marking them as top priorities to share them with the Chinese side. He also stressed that those meetings will contribute into fruitful results in the Chinese-Emarati committee meeting, leveraging the UAE Economy interests and increasing Chinese investments in the country.
The bilateral relations witnessed big improvements within the last decade, encouraged by the UAE and Chinese leadership eagerness to improving cooperation horizons on high levels thus contributing to increasing trade exchange volume to $13bn last year from $4bn in 2003, registering an annual increase of 34%.
Chinese Trade companies active in the UAE are about 31 as well as 900 companies working at the UAE Free Zones. Trade agencies are 77 and trademarks exchanged in the UAE are about 1132. The UAE and China are bonded by an economic, industrial and technical cooperation agreement, a tax splitting, investment protection and air freight agreements. Currently, the GCC is negotiating signing free trade agreement with China.
Posted by Nadeen El Ajou
