UAE non-oil trade with China to hit $200bn

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held constructive talks with the Commerce Minister of the People’s Republic of China, Wang Wentao, over high-growth sectors on the closing day of the UAE-China Business and Investment Forum, which took place during the two-day state visit by President Sheikh Mohamed bin Zayed Al Nahyan to the People’s Republic of China.

The ministers discussed prospects for stimulating growth in bilateral and mutual trade and investment, in addition to new horizons and areas available for investment in high-growth sectors.

UAE-China trade

Alsuwaidi highlighted China’s growing investments in the UAE, which rose 16 per cent in 2023 to $1.3bn, accounting for 60 per cent of the total value of China’s investments in Arab countries.

Meanwhile, Dr. Al Zeyoudi said that UAE-China non-oil trade value, which reached $81bn in 2023, is expected to surpass $200bn by 2033.

Great to be in Beijing to meet #China's Minister of Commerce Wang Wentao. We celebrated the robust growth in our bilateral non oil trade, which hit $81 billion in 2023, and discussed ways to increase joint ventures in high-growth sectors – from manufacturing to logistics. ???????????????? pic.twitter.com/KzfZyZrpdm

— د. ثاني أحمد الزيودي (@ThaniAlZeyoudi) May 31, 2024

More than 70 participants participated in the forum from the Emirati side, including senior government officials from federal and local entities, in addition to representatives of a number of major Emirati companies operating in various sectors, including logistics services, industry, energy, technology, health care, environment, agriculture, food security, and financial services.

Discussions during the forum included exploring promising opportunities in sectors expected to achieve significant growth, with a particular focus on information and communications technology, manufacturing, financial services, logistics, and energy.

The forum was held as part of the agenda of events organised to mark the 40th anniversary of the establishment of diplomatic relations between China and the UAE.

Sincerely,
KOSPI

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