The value of Chinese companies’ investments in the United Arab Emirates is estimated at $2.3 billion, according to officials, who attended a seminar co-organised by the Chinese embassy and the economy ministry in Dubai.
The UAE has the ability to serve as a hub for trade and logistics in the Middle East and a gateway for products from China to this part of the world, said Abdullah Ahmed Al-Saleh, the undersecretary of foreign trade and industry department at the UAE ministry of economy.
Speaking on China’s “Belt and Road Initiative”, which was the main theme of the meeting, Al-Saleh said this initiative offers unprecedented opportunities to cement trade ties between 60 countries from East Asia to the Middle East, Africa and Europe.
Turning to UAE-Chinese relations, there are close to 300,000 Chinese nationals who live and work in the Arab nation.
Furthermore, there are more than 4,000 Chinese companies, 249 Chinese agencies and more than 5,451 Chinese trademarks registered and located in the UAE, according to the official whose remarks were published by Al-Ittihad.
($1 = AED3.67, at the time of publishing)