Consolidating Bilateral Ties Between UAE and China

As part of its efforts to consolidate bilateral ties with its second top-most trading partner, the Dubai Chamber of Commerce and Industry hosted a high profile Chinese banker’s delegation of 21 officials, headed by Mr. Zhao Xiaodi, Secretary General, China International Chamber of Commerce (CCOIC), at its headquarters recently.

In his welcome address to the visiting delegation, Mr. Atiq Juma Nasib, Senior Director, Commercial Services Sector, stressed on the long-time trading ties enjoyed by Dubai and Chinese investors stating that both the sides are looking forward to working together in areas of common interest which will serve and support the achievement of their mutual goal of promoting the business culture of their respective regions.

He informed the visiting banker’s delegation that Dubai’s financial sector has been playing a leading role along sides the trade, tourism and logistics sectors in stimulating Dubai’s economy and there is ample scope for Dubai and China to enhance cooperation and work jointly in new areas of banking and financial services for the benefit of both the sides.

Dubai and China’s mutual partnership has seen the country occupy the 2nd position in Dubai’s list of top global trading partners as the Emirate’s non-oil trade with China reached AED 82.8 billion in the first 10 months of last year. Dubai offers enormous potential as a gateway to 2.2 billion consumers in the Middle East region and a solid base to tap into, European, Asian and African markets for Chinese businesses, added Mr Nasib.

The Senior Director of Commercial Services Sector further informed that Dubai Chamber’s relationship with International Chamber of Commerce (ICC) is strong as Dubai Chamber is the representative of ICC in region and has cooperated with the ICC in ATA Carnet and Certificate of Origin, stating that such cooperation leads to enhanced trade ties between different trading partners of the world. Mr Nasib also reiterated Dubai Chamber’s commitment to providing all the support and assistance to Chinese companies seeking to invest in Dubai by establishing businesses here as well as to help them strengthen existing trade ties and to take it to next level of development.

On his part, the Secretary General of China International Chamber of Commerce pointed out that Dubai Chamber enjoys a well-known reputation in China for the quality of service and support provided to the Chinese companies operating in Dubai. He further stated that the common objective of promoting trade is the reason for close trade ties enjoyed by the two sides. Mr. Xiaodi informed that the Chinese companies were looking at Dubai as a gateway to enter the markets of Africa due to the strategic location enjoyed by the Emirate and offers ample opportunities for Chinese businesses to prosper, he said while highlighting the Chinese delegation’s interest in knowing more about the services provided by Dubai Chamber as the visit helped exchange of experiences and information and means to optimising Chinese investments in the Dubai market.

The Dubai Chamber introductory presentation provided a comprehensive overview of Dubai’s economy, Dubai Chamber’s added-value services offered to the business community including the issuance of certificates of origin, ATA Carnets, membership renewals, and its overall efforts to support economic growth while creating a stimulating business environment for global investors in the Emirate.