UAE-China non-oil trade reached Dhs1.72 trillion in the last 10 years

The non-oil trade between the UAE and China increased by 78.5 per cent from 2012 to 2021, totalling Dhs223.5 billion by the end of 2021 compared to Dhs125.1 billion in 2012.

According to figures from the Federal Competitiveness and Statistics Centre (FCSC), during this reporting period, the total value of their non-oil trade exceeded Dhs1.72 trillion, including imports valued at Dhs1.53 trillion, non-oil exports valued at Dhs64 billion, and re-exports valued at Dhs121 billion.

UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has sent a congratulatory message to President Xi Jinping of the People’s Republic of China on the occasion of his country’s National Day, which is marked on October 1st.

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, also sent similar message to the Chinese President.

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, also sent congratulatory message to Chinese Premier Li Keqiang, on the occasion.

The FCSC’s figures also showed that the non-oil trade exchange between the UAE and China in the first quarter of 2022 totalled Dhs118.4 billion, consisting of imports valued at Dhs102.7 billion, non-oil exports valued at Dhs5.5 billion, and re-exports valued at Dhs9.8 billion. The year 2017 recorded the highest trade exchange in the last decade worth Dhs195.6 billion, a rise of 15 per cent compared to 2016. Telecommunications devices topped the list of goods imported from China over the past year, amounting to Dhs70 billion, followed by data processing equipment at Dhs23.6 billion, medical vaccines at Dhs4.1 billion, display screens at Dhs2.5 billion, and headphones and amplifiers at Dhs2.5 billion In the list of top five goods exported to China, ethylene polymers came in the first place with Dhs4 billion, followed by propylene polymers with Dhs1.9 billion, rapeseed oil with Dhs1.4 billion, copper scraps with Dhs600 million, and residues of fatty oil extraction with Dhs570 million.

In last year’s list of re-exports to China, telecommunications devices came in the first place with Dhs8.3 billion, followed by data processing equipment with Dhs2.09 billion, vehicles with some Dhs1.5 billion, raw nickel with Dhs1.3 billion, and car accessories with Dhs600 million.

Meanwhile, the number of licences registered by Chinese investors at the Ajman Department of Economic Development (Ajman DED) totalled 113, an increase of 27 per cent compared to last year while Ajman’s exports to China amounted to nearly Dhs2.5 million until the end of September 2022.

These figures were released by the department on the occasion of its participation in the 73rd Chinese National celebrations on 1st October.

The department’s figures also revealed that until the end of September 2022, the number of Chinese investors in the emirate was 475, an increase of 5 percent compared to the same period in the previous year.

Abdullah Ahmed Saif Al Hamrani, Director-General of Ajman DED, highlighted the close ties between the UAE and China, which are a global model to be followed.

The two countries have significant developmental potential and positive prospects, he added, noting that their bilateral relations are based on mutual respect and shared interests in economic, trade and investment areas. Separately, DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced recently a doubling of Chinese companies in its Free Zone, and adding on average more than two Chinese companies a week.

DMCC is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE. This growth is underpinned by a long-standing diplomatic and economic relationship between the UAE and China.

DMCC has played a vital role in strengthening the UAE–China trade relations and in enhancing the presence of Chinese companies in Dubai. Since its establishment, DMCC has signed a wide range of agreements with public and private entities in China to boost the bilateral trade relationship, and hosted roadshows and webinars to facilitate the international expansion of Chinese companies.

DMCC has created an integrated infrastructure that caters to the Chinese business community, including the establishment of the Yingtian Chinese Business Centre DMCC in 2017 to aid Chinese companies wanting to set up a company in Dubai. In addition, DMCC’s website was also launched in Mandarin to further increase the ease of doing business in Dubai. In 2020, a China Service Centre opened its doors in Almas Tower, DMCC’s headquarter, with Mandarin onboarding support across all client touchpoints, while a representative office in Shenzhen was inaugurated to bring DMCC to the doorstep of Chinese businesses.

The UAE and China have historically shared great diplomatic and economic relations, working closely towards mutual goals and principles. The UAE is China’s biggest trading partner in the Arab World. In 2021, China also ranked first as the UAE’s biggest trading partner, accounting for 11.7 per cent of the UAE’s total foreign trade, and the value of non-oil trade exchange between the two countries amounted to Dhs212 billion, a growth of 27 per cent from 2020 and 19.8 per cent from 2019.

WAM