Complex Made Simple

Trade volume between UAE and China hit AED201 billion in 2014

“Decline in oil prices will affect trade relations between different countries of the world”

The volume of trade exchange between the UAE and China amounted to AED201.5 billion ($54.8bn) over the last year, reveals a senior official.

It is expected that the trade exchange between the Emirates and China will decline during the current year due to lower oil prices, says He Song, economic and commercial counsellor at the Chinese embassy in the UAE.

He explains that the trade volume between the two countries reached AED125bn ($34bn) during the first nine months of this year, Emarat Alyoum reports.

He says that the decline in oil prices will affect trade relations not only between China and the UAE, but also between different countries of the world and points out that it is not the first time for the China-UAE trade to decrease, as it fell during the global financial crisis in 2009, but had rebounded.

Song stresses that there is a great potential for cooperation between the two countries and that while the UAE is considered a global and regional commercial centre, China is the largest market in the world.