UAE-China Economic Forum calls for further sustainable cooperation

BEIJING, July 23 -- Under the theme of “Sustainable Partnership, Sustainable Investment”, the UAE-China Economic Forum was held in Beijing on Monday, serving to provide a platform to discuss the importance of innovation towards growth across key sectors in both countries.

More than 500 people from both the public and private sectors of the two countries attended the forum to discover investment opportunities and engage with decision makers and potential partners through a series of keynote speeches, presentations, and open discussions.

Yu Jianhua, Vice Minister of Commerce of China and Deputy China International Trade Representative, addresses the forum. (Photo by Kong Qi)

Yu Jianhua, Vice Minister of Commerce of China and Deputy China International Trade Representative, addressed the forum. “Last summer, President Xi Jinping paid a state visit to the UAE, upgrading the relationship to a comprehensive strategic partnership. Already the bilateral economic and trade cooperation between the two countries has achieved fruitful results. China has become the largest trading partner of the UAE, while the UAE has become the second largest trading partner and the largest export market of China in the Arab region,” he said.

Chinese President Xi Jinping held talks with Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi of the United Arab Emirates at the Great Hall of the People in Beijing on Monday. Yu pointed out that the two sides reached a broad consensus on the development of bilateral relations, pointing out ways to deepen China-UAE economic and trade cooperation.

Yu highlighted this year as the 70th anniversary of the founding of the PRC and the 35th anniversary of the establishment of diplomatic relations between China and the UAE. “As a strong defender of free trade and multilateral cooperative trading system, China will implement Foreign Investment Law, ease market access, promote the construction of free trade pilot zones, and bring more cooperation opportunities to the UAE and other countries,” Yu mentioned.

Sultan bin Saeed Al Mansoori, UAE Minister of Economy,addresses the forum. (Photo by Kong Qi)

Sultan bin Saeed Al Mansoori, UAE Minister of Economy, emphasized when delivering his opening remarks that the two countries’ bilateral relations continue to prosper at an unprecedented pace, jointly addressing various issues of bilateral, regional and international significance.

President Xi Jinping’s visit to UAE last year further deepened the robust bilateral relations, thereby establishing a long-term friendship that is capable of overcoming regional challenges, Mansoori said.

Mansoori also mentioned that most notable is the launch of the megaproject 'Traders Market’, which is considered as an international station for the Belt and Road Initiative in Dubai, and another agreement with the China-Arab investment Fund for the establishment of the 'Vegetable Basket' project in Dubai. “These efforts reflect the UAE’s keen desire to support the ‘Belt and Road’ initiative and make significant contributions to its agenda with its infrastructure, strategic locations, commercial and logistic services,” Mansoori noted.

Sultan bin Saeed Al Mansoori, UAE Minister of Economy,addresses the forum. (Photo by Kong Qi)

During the forum, 19 MOUs and agreements were signed by enterprises from the two countries. There was heated interaction by the participants during panel discussions and presentations regarding China Foreign Investment Law and Business Environment, Prospects for China’s Innovation Cooperation, Cooperation between UAE and China on infrastructure area under the framework of Belt and Road Initiative, etc.