Sunday, June 1, 2014

UAE aims to boost trade with China

The International Magazine on Arab Affair - June 2, 2014

 by Atique Naqvi, Dubai

The UAE is the largest market in the Middle East for Chinese products, and the trade between the two countries is set to expand further in the next few years as officials held discussions to increase economic cooperation.  Last year, trade between the UAE and China topped AED169.67 billion ($46.23bn) in 2013, compared to AED148.27 billion ($40.4bn) in 2012.  More than 4,000 Chinese companies are registered in the UAE as of Q4 of last year.  Recently, UAE’s minister of state Dr. Sultan Al Jaber visited China to hold talks and find ways to enhance trade between the two economies.  The visit laid the groundwork for increased economic activity between the UAE and China, which is growing at more than 14 per cent annually.  The talks explored opportunities for collaboration and investment across sectors of mutual interest, including energy, infrastructure and technology.