UAE-China Forum Examines Ways to Boost Trade and Investment

Photo: Government of Dubai Media Office

His Highness Sheikh Ahmed bin Mohammed, Second Deputy Ruler of Dubai, attended the UAE-China Business Forum, which marked the 40th anniversary of diplomatic relations between the UAE and China. The forum, held with the participation of over 300 delegates, was led by Chinese Premier Li Qiang and organized by Dubai Chambers in collaboration with the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME). The event was hosted by the UAE Ministry of Economy and China’s Ministry of Commerce.

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The forum served as a significant platform to discuss strategies for enhancing economic and trade relations between the two countries. It highlighted successful Dubai-based companies that have expanded their operations in China and Chinese firms that have flourished in Dubai. Panel discussions at the event underscored the role of sovereign wealth funds in fostering joint investments and emphasized the need to strengthen partnership frameworks within the energy sector.

Abdulla bin Touq Al Marri, UAE Minister of Economy, expressed confidence that expanding cooperation into new economic sectors would further strengthen bilateral relations. He noted that the UAE and China share a deep and strategic relationship, characterized by a commitment to advancing mutual investments and supporting the growth of Emirati and Chinese businesses. Bin Touq pointed out that there are now approximately 15,500 Chinese businesses operating in the UAE, reflecting the strong economic partnership between the two nations.

The forum provided an important platform for advancing bilateral economic cooperation and supporting the development of fruitful partnerships at both governmental and private sector levels. It highlighted the diverse economic and investment opportunities available in both countries, leveraging their strategic locations in Asia, Africa, and Europe.

Bin Touq elaborated on the UAE’s new economic model and its alignment with the ‘We the UAE 2031’ vision. He discussed recent legislative and policy changes that have enhanced the UAE's attractiveness for foreign direct investments and invited Chinese companies to explore opportunities in various sectors including tourism, aviation, circular economy, FinTech, e-commerce, infrastructure, artificial intelligence, healthcare, smart transportation, and sustainable manufacturing.

The tourism sector was highlighted as a key area of cooperation, with the number of Chinese visitors to the UAE reaching approximately 1.2 million in 2023—a 213 percent increase from the previous year. The UAE’s national carriers currently operate 44 weekly flights connecting the two countries, underscoring the robust travel and tourism links between them.

Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, noted that China’s status as the UAE’s top trading partner reflects the strong bilateral relationship. He emphasized the strategic importance of the Chinese market and the role of the Dubai International Chamber’s offices in Shanghai, Shenzhen, and Hong Kong. These offices, the highest number Dubai has in any single country, are crucial for enhancing investment opportunities and facilitating trade.

Al Ghurair also mentioned the recent Dubai Business Forum in Beijing, which attracted 800 investors and entrepreneurs, further demonstrating the strong commitment to enhancing the UAE-China partnership. He reported that the Dubai Chamber of Commerce had 5,480 active Chinese member companies by the end of August, with 1,004 new companies joining in the first eight months of the year.

The forum featured four panel discussions with 20 speakers, including officials and business leaders from both countries. Topics included the role of sovereign wealth funds in joint investments, the energy sector, and opportunities for cross-investment and trade. The discussions also showcased the successes of Dubai-based companies in China and Chinese firms thriving in Dubai.

The UAE-China Business Forum builds on the momentum of the Dubai Business Forum – China held in August, which was Dubai Chambers’ inaugural international edition. The Beijing forum attracted high-profile Chinese business leaders and officials, highlighting the opportunities arising from the Dubai D33 agenda and further strengthening economic ties between the UAE and China.