264.2 billion dirhams.. volume of trade exchange between China and the UAE

The value of non-oil intra-trade between China and the UAE amounted to more than 264.2 billion dirhams in 2022.

The UAE and China reviewed enhancing joint investment opportunities in new economic sectors.

Abdullah Ahmed Al-Saleh, Undersecretary of the UAE Ministry of Economy, held a bilateral meeting with the Chinese Deputy International Trade Representative, Zhang Xiangchen, on the sidelines of the UAE-China Economic Forum, which was held recently in Dubai.

New economic sectors

During the meeting, the two sides discussed enhancing joint investment opportunities in new economic sectors, trade, logistical transportation, real estate, financial services, technology and insurance activities.

Al-Saleh stressed that the UAE-Chinese historical relations are based on partnership and strategic cooperation, and have witnessed great development over the past four decades in all fields, especially economic and trade, which serves the development orientations of the two countries and supports growth and development. the sustainability of their economies.

According to khaleejtimes, the United Arab Emirates is the first Arab and Gulf trading partner of China during 2021. China is also the first trading partner of the Emirates.

 $72 billion in 2022

The value of non-oil intra-trade between the two countries amounted to more than 264.2 billion dirhams ($72 billion) in 2022, achieving a growth of 18 percent, compared to 223.8 billion dirhams in 2021.

Mutual investments between the two countries are witnessing continuous growth in various economic and trade sectors, most notably real estate, logistical transportation, warehousing, financial services, insurance activities, manufacturing and information technology.

The third largest foreign investor in the UAE

China reached nearly 44 billion dirhams as of early 2021. China is also the third largest foreign investor in the UAE at the global level, with foreign direct investments amounting to $9.3 billion until the beginning of 2021, and achieved a growth of 514.5 percent compared to the beginning of 2013.

Economic policies

The Undersecretary of the Ministry of Economy briefed the Chinese side on the economic policies adopted by the UAE to enable and enhance the competitiveness and growth of the investment environment, including providing incentives and supportive factors to encourage the private sector to invest and expand.