Minister of Economy of WAM: 43 billion dollars UAE non-oil trade with China in 2018

– China accounts for 16% of the UAE’s non-oil foreign trade with Asian countries.

– China accounts for 15% of UAE imports of goods worth $ 38 billion.

– The UAE is among the top 25 countries in attracting Chinese exports and the first Arab.

– UAE accounts for 29% of China’s total exports to Arab countries.

– The UAE is the largest trading partner of China in the Arab countries.

– 75 weekly flights between the UAE and China.

– The UAE is home to 4,000 Chinese companies, 327 commercial agencies and 6,600 brands.

– UAE is an important vital station in the “Belt and Road” initiative.

– More than 50 agreements and memorandum of understanding between UAE and China in 10 years.

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Interview – Ahmed Al-Nuaimi.

Abu Dhabi, July 22 (WAM) – Minister of Economy Sultan bin Saeed Al Mansouri said that China represents the most important trading partner of the UAE in the non-oil commodity trade, accounting for 9.7% of the UAE’s total non-oil trade in 2018. The UAE’s non-oil foreign trade with China last year accounted for 16% of the UAE’s total non-oil foreign trade with Asian countries.

In an interview with the Emirates News Agency (WAM) on the occasion of the official visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces to the People’s Republic of China at the head of a high-level delegation, China accounted for 15% UAE imports of goods in 2018 to be ranked first in this regard worth more than 38 billion dollars, pointing out that China is a source of 27% of the total imports of the UAE from the countries of Asia and China is ranked 11th in the world in the reception of non-oil exports as well as goods Re-export from the UAE.

The UAE is one of the top 25 countries in attracting Chinese and Arab exports, accounting for 29% of China’s total exports to Arab countries. The UAE is the most important Arab trading partner of China, accounting for 26% of the total non-oil foreign trade between China and the Arab countries.

The UAE accounts for 36% of China’s exports of high-tech goods to the Arab countries and ranks among the top 20 countries and accounts for 1.1% of China’s total exports of this commodity group to the world. The UAE’s non-oil exports account for 16% Of China during 2018.

HE the Minister of Economy said that the wise leadership of the UAE under the leadership of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, is keen to develop bilateral relations with the People’s Republic of China and make further efforts to promote the interests of the peoples of the two friendly countries in various fields. To the overall strategic partnership.

On the UAE-China projects to be implemented during the next phase, Al-Mansouri said that the next phase will witness the strengthening of cooperation in the areas of interest to the two countries, which serve the development agenda in them, including renewable energy, space, knowledge economy, small and medium enterprises and other important and vital sectors as well as large projects in the infrastructure sectors And the ongoing logistics services within the cooperation and development projects of the “Belt and Road” initiative.

The relations between the UAE and China represent a model for constructive cooperation based on respect and common interests, which are ideal relations between the second largest economy and the second largest Arab economy. China is the UAE’s first trading partner. In contrast, the UAE is the largest trading partner of China in the Arab countries. The depth and depth of relations between the two friendly countries and the serious desire of both countries to develop them, pointing out that the UAE is one of the most important marketing centers of Chinese goods in the region, perhaps the largest Chinese market in Dubai.

With regard to the growth in the number of Chinese tourists visiting the UAE during the past year, Al Mansouri said: “The UAE is the destination of Chinese tourists in the region because of the state-of-the-art tourist centers and historic areas of the country. It is also one of the best tourist destinations in the world and an important destination for leisure, cultural, As well as the organization of events and festivals in addition to the existence of a sophisticated air transport network covering the world and linking the parties, making the UAE a favorite destination for Chinese tourists, also contributed to the existence of more than 75 flights a week between the two countries and exemption The number of hotel guests in the People’s Republic of China in 2018 reached 1.46 million. The Chinese market ranked fourth in terms of the number of hotel guests in the UAE during the same year.

On the most important economic and trade cooperation agreements between the UAE and China, the Minister of Economy said: There are many bilateral cooperation agreements signed by the two friendly countries during the last phase to consolidate the comprehensive strategic partnership. During the historic visit of His Excellency President Xi Jinping, To the UAE in July 2018 signed 13 cooperation agreements and memorandum of understanding aimed at strengthening the strategic partnership and bilateral cooperation between them and opening new horizons for joint action in various sectors.

The agreements and memorandums of cooperation included energy, e-commerce, agriculture, livestock and fisheries, cooperation at the China International Import Fair, as well as memorandums of understanding within the economic belt of the Silk Road and the Silk Road Initiative for the 21st Century.

HE Sultan bin Saeed Al Mansouri, Minister of Economy, said that a strategic cooperation agreement has been signed between ADNOC and China National Petroleum Company. The two countries have also signed an agreement on mutual administrative cooperation and assistance in customs affairs and a framework agreement for cooperation between the Abu Dhabi Global Market and the Chinese- To create a financial services and innovation platform on industrial capacity cooperation under the belt and road initiatives and a partnership and investment agreement in the world’s largest concentrated solar project.

On the number of Chinese companies, agencies and brands operating in the UAE, Al Mansouri said: “The UAE has a strong investment environment in terms of investment opportunities and strategic location alongside security and stability. It is one of the most advanced countries in terms of infrastructure, service provision, These benefits have encouraged Chinese companies and investors to establish and operate their businesses from the UAE and also serve as a launching pad for expansion in the region. The UAE hosts more than 4,000 Chinese companies, 327 Chinese trade agencies and 6,600 registered Chinese brands Until the end of 2017 and opened four of the largest Chinese banks branches in the UAE.

Regarding the balance of Chinese investments in the UAE and the volume of UAE investments in China, HE the Minister of Economy said that the People’s Republic of China ranked seventh among the world countries investing in the UAE with cumulative accumulation of direct Chinese investments until the end of 2017. China’s direct investment in the United Arab Emirates during the five years 2013-2017 increased by 276% to double its cumulative four times from $ 1.2 billion by the end of 2013 to $ 4.6 billion by the end of 2017. China’s direct investment Emirates at the end of 2017 compared to the end of 2016 by 65.8%.

وأوضح المنصوري أن الاستثمارات الصينية في الإمارات تشمل مجموعة كبيرة من القطاعات والأنشطة الاقتصادية وتركزت في أربعة قطاعات رئيسية وهي قطاع تجارة الجملة والتجزئة وإصلاح المركبات بنسبة مساهمة من مجمل الاستثمارات الصينية المباشرة في الإمارات بلغت 48.7% وبنسبة نمو سنوية وصلت إلى 101% يليه قطاع الأنشطة المالية وأنشطة التأمين بنسبة مساهمة من مجمل الاستثمارات الصينية المباشرة في الإمارات بلغت 33.5% وبنسبة نمو سنوية وصلت إلى 48.4% ثم قطاع البناء والتشييد بنسبة مساهمة من مجمل الاستثمارات الصينية المباشرة في الإمارات بلغت 8% وبنسبة نمو سنوية وصلت إلى 87.7% فقطاع الأنشطة العقارية بنسبة مساهمة من مجمل الاستثمارات الصينية المباشرة في الإمارات بلغت 7.1% وبنسبة نمو سنوية وصلت إلى 29.5%.

He added that there are a large number of UAE companies operating in the Chinese markets in vital sectors including ADNOC, Mubadala, Borouge, Emirates Aluminum, DP World, Dnata and Union National Bank in sectors such as energy, renewable energy, marine operations, financial services, industry, IT and hospitality. Of projects and investment cooperation during the next phase.

Al-Mansouri said that the UAE has succeeded in executing mega-projects of advanced infrastructure, which include the world’s most technologically advanced ports, modern and integrated international transport networks, and the strategic location As a vital center linking East, West, North and South in an area full of emerging markets with promising prospects for growth, stressing that these and other factors make the UAE an important vital station on the Silk Road and the important bases of the Belt and Road initiative.

He added that the “Belt and Road” initiative launched by the Chinese President in 2013 represents a development strategy centered on communication and cooperation between countries, especially between China and Europe and Asia, and includes two main sections, “Silk Road Economic Road Belt” and “Silk Road” Through the initiative, Beijing seeks to strengthen trade and economic ties between Asia, Europe and Africa, noting that the UAE is keenly interested in this vital global strategic project, both in terms of strengthening the bridges of cooperation between the two countries and also in the field of the 60 countries associated with the initiative.

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, during his attendance at the Forum of the Belt and the Road to International Cooperation in Beijing last April, stressed the important message that the UAE trusts the “Belt and Road” Its ability to link communities, economies and peoples, and stimulate growth in many sectors and industries, through sophisticated global infrastructure and new international trade routes.

“The inauguration of the Cusco Abu Dhabi container terminal of COSCO Naval Ports Co. Ltd. in Port Khalifa, which is the first international terminal of COSCO Maritime Port Company of Cusco China Shipping Company, the world’s largest integrated freight forwarding company, underscores the depth of the relations between the two countries. As well as the announcement by China’s cargo carrier Uniteop Airlines to operate cargo flights between Kunming and Dubai using a Boeing 747 cargo plane with three flights a week between Kunming and Dubai via Al Maktoum International Airport.

On the importance of high-level visits between the UAE and China in enhancing cooperation, Al-Mansouri said that mutual visits between senior officials of the two friendly countries play a major role in boosting relations between the two sides to enhance the strategic partnership, especially as the two countries witness unprecedented growth at all levels.

The official visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum to China in 2008, the official visit of His Highness in April 2019 and the visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces in 2009 followed by another visit to his name in December In 2015, to establish joint projects in the relations between the two countries and strengthen them in all fields, especially economic, trade and investment. “

The visit of Chinese President Xi Jinping to the country in July 2018 is a new breakthrough that will enhance bilateral relations and establish a new era of strong and comprehensive strategic relations in various fields and the election of His Excellency President Ping to be his first destination on the first overseas visit. Since his re-election as president by the Chinese People’s Assembly has carried many meanings and meanings, most notably strong desire to go to the relations of the two countries to the maximum extent as strategic partners, and reflected the visit the appreciation of the Chinese leadership of the State of Emirates and its leadership and generous people.

Concerning the number of agreements and official visits between the UAE and China.

Al-Mansouri said that the number of agreements signed between the two friendly countries is estimated at more than 50 agreements and memorandums of understanding during the period from 2010 to the first half of 2019. The most important among them is the economic and technical cooperation agreement, Cultural cooperation agreements and other agreements which have had a great impact on the promotion and development of bilateral cooperation relations in different fields. In the field of mutual visits, the same period witnessed the organization of high-level visits to senior officials, More than 200 trade missions.

The Minister of Economy stressed that the UAE-China relationship has been continuously developing since the establishment of diplomatic relations between the two countries on Nov. 1, 1984, and the opening of the State Embassy in Beijing in March 1987. Since then, relations between the two countries have started on the basis of mutual interests and continuous coordination.

Credit : http://wam.ae/ar/details/1395302775668

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