UAE, China Discuss Industrial cooperationSource: www.export-egypt.com 2/3/2016, Location: Middle East |
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Sultan bin Saeed Al Mansouri, Minister of Economy of the UAE, and Ning Jizhe, Deputy Director of China's National Development and Reform Commission, today discussed ways to promote industrial cooperation and innovation between the two countries.
During the meeting in Masdar City, the parties also discussed how the UAE would benefit from China's industrial experience to serve its development plans. They initialed an agreement to bolster industrial and investment partnership between the UAE and China. Minister Al Mansouri stressed that industrial cooperation is increasingly important for development given the UAE's increasing interest in diversifying its economy and achieving sustainable development. He said the industrial sector accounts for 14 per cent of the country's GDP and is projected to reach 20 per cent by 2020. "Through local and federal plans, we seek to develop this sector through several ways including stronger cooperation with friendly countries that are scientifically, technologically and industrially advanced like China," Al Mansouri said. The UAE, he noted, serves as a gateway to the MENA markets and a logistic hub for China. It receives some 60 per cent of China's export commodities destined for the region. Minister Al Mansouri said some 300,000 Chinese nationals live and work in the UAE, and more than 4000 Chinese companies and 249 trade agencies are operating in the country with 5451 Chinese trademarks registered to date at the Ministry of Economy. The UAE minister invited the visiting Deputy Director of China's National Development and Reform Commission to the world’s first Global Manufacturing and Industrialisation Summit, to be held in October 2016 in Abu Dhabi. The Chinese official stressed that his country is keen to bolster cooperation with the UAE, which he described as an economic model in the region. |
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