UAE – Mubasher: The trade exchange between the UAE and China is expected to reach $200 billion by 2030.
This growth is expected to be further supported by new regional trade blocs like BRICS+, as global trade shifts from globalisation to partnerships focused on friendshoring, Dubai Multi Commodities Centre’s (DMCC) Future of Trade report said, according to the Emriates News Agency (WAM).
The DMCC reported a 9% annual increase in Chinese company memberships in the first half (H1) of 2024, bringing the total number of Chinese companies in its free zone to 900.
The Future of Trade report, which were presented during DMCC’s second Shanghai and Shenzhen roadshow, also identified significant opportunities for UAE-China collaboration in tech and environmentally sound technologies (ESTs).
Over 550 business leaders were informed about the report’s insights and the benefits for Chinese businesses to expand in Dubai.
DMCC executives emphasised that the UAE's advanced trade infrastructure, supportive economic policies, and DMCC's specialised business ecosystems have attracted 15% of the approximately 6,000 Chinese businesses operating in the UAE to the district.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said: “We expect to see these numbers grow in the coming years as the UAE and China deepen their commercial networks and leverage the enormous opportunities on offer in high-growth areas like technology, services, and sustainability.”
Muhannad Sulaiman Al Naqbi, Consul-General of the UAE in Shanghai, commented: “As we work towards fostering stronger ties and doubling bilateral trade, initiatives like DMCC's roadshow will play a pivotal role in unlocking new avenues for collaboration and prosperity.”
Mariam Alshamsi, Consul-General of the UAE in Guangzhou, stated: “Founded in a rich history of collaboration and success, the opportunities for the UAE and China to work together more closely could not be more apparent. lt is through key events such as DMCC's roadshow today that we deepen our economic and trade ties.”
