Shanghai: Dubai’s relations with China received a boost over the weekend with the signing of 11 agreements involving both the private and public sectors.
The agreements, which involved different fields, including trade and education, were reached during a three-day event titled “Dubai Week in China,” which was organised by Dubai-based Falcon and Associates initiative and Invest Shanghai. It also had the support and sponsorship of Shanghai Municipal Commission of Commerce (SMCC) and several private and government-owned entities in Dubai.
Falcon Associates is an independent strategic advisory and implementation company that was established to deepen Dubai’s vision nationally and internationally.
“With its world-class logistics infrastructure, Dubai is an ideal hub for Chinese companies looking to expand their global footprint,” said Hesham Shirawi, vice-chairman, Dubai Chamber of Commerce and Industry.
Already, Dubai Chamber of Commerce and Industry has announced the opening of an office in Shanghai. No date has been given for the opening of the office. But Shirawi explained in an interview with Gulf News that the Shanghai office will join other offices for Dubai Chamber in other countries, including Thailand, Azerbaijan, Ghana, Kenya, Mozambique.
According to Dubai Chamber of Commerce and Industry figures, there are 1775 Chinese firms among its membership, and China is Dubai’s number 1 trading partner since 2014. Nearly 60 per cent of trade between China and the UAE is re-exported to Africa and Europe.
“China is Jafza’s leading partner, with trade values of $12.6 billion [Dh46.2 billion] in 2015,” said Ebrahim Al Janahi, Deputy CEO and COO of Jafza.
“This week is evidence of the growing role trade has in bringing our world’s closer,” said Guatam Sashittal, CEO, DMCC. “China is Dubai’s number one trading partner and the relationships that we have cemented this week will further underpin the role that DMCC is playing boosting commodities trade,” he added in a press statement.
DMCC hosts more than 150 Chinese companies, including China Sate Construction Engineering Corporation.