UAE-China expo to boost trade - GulfToday

UAE-China expo to boost trade


A general view shows the area outside the Burj Khalifa in Dubai. Picture used for illustrative purposes File/Reuters

Business Bureau, Gulf Today

The Ministry of Economy of the United Arab Emirates and the China Council for the Promotion of International Trade (CCPIT), will together host the first China-UAE Economic and Trade Digital Expo, a platform designed to reinvigorate trade activities between the two countries as they seek to lay the foundations for bilateral trade in the new digital economy.

Organised by Hala China, an initiative by Dubai Holding, and the China International Exhibition Centre Group Corporation (CIEC), the week-long event, July 15 to July 21, will see leading businesses from the UAE and China interact online to explore new enterprise and economic cooperation opportunities through a range of panel discussions with industry leaders.

The seamless migration of the economic and trade interaction between the two countries to a digital platform reflects the focus of the recently-announced UAE cabinet restructuring - agile digital-first governance in a post-pandemic world.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, said: “Bilateral trade between the UAE and China, like many, have met with a speedbump in 2020. Yet, the deep bonds, adaptability and ambitions to innovate that our two nations share will see us laying the foundations for mutual growth in the new digital economy we are transitioning towards.

“The inauguration of this digital trade expo is a case in point. The event is sure to spark a wave of new possibilities for trade and cultural exchanges between China and the UAE as we enter the reset and recovery phase of the global economic cycle.” Prior to the disruption caused by the coronavirus (COVID-19) pandemic, bilateral trade between China and the UAE had looked set to grow quickly, according to the UAE’s Ministry of Economy figures. Official figures showed that bilateral trade exceeded $50 billion in 2019 - a 16 per cent increase from 2018. Non-oil exports from the UAE to China grew by 64 per cent in the same period driven by the UAE’s aggressive economic diversification.

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