Tuesday, May 12, 2015

Trade between Dubai, China skyrocketing

DUBAI--- Dubai Investment Development Agency (Dubai FDI), an agency of the emirate's Department of Economic Development (DED), is participating in the inaugural 'Dubai Week in China' to support the thriving relations between Dubai and China and highlight the advantages of doing business in Dubai.

The Dubai Week in China is held at the Orange in Taikoo Li Sanlitun South complex in Beijing from the 8th to 15th of May 2015. The event aims to celebrate Dubai's fast-growing engagement with China in diverse areas and present the unprecedented opportunities across business, tourism, culture and lifestyle in Dubai.

The week-long event will provide the Chinese public, particularly trade visitors and investors, to experience the unique cultural, entrepreneurial and commercial attractions of Dubai that makes the city a preferred place to live and do business for over 200 nationalities.

"We are excited to be in China at this crucial period when Dubai is undergoing remarkable transformation as a business hub and lifestyle destination," said Fahad Al Gergawi, CEO of Dubai FDI.

"China is critical to the development strategy of Dubai, built around the emirate's pre-eminence as a Gateway to the East and the fastest transit route to the Middle East and Africa. A growing number of Chinese enterprises are capitalising on Dubai's hub status and Chinese visitors account for a major share of the tourist traffic to Dubai," added Al Gergawi.

China was Dubai's leading trade partner in 2014 after bilateral trade reached AED 175 billion (US$47.6 b), a 29% increase over the previous year. More than 3,000 Chinese companies are enrolled as members in Dubai Chamber.

Al Gergawi said Dubai's appeal as modern city is also a major draw for Chinese as over 200,000 of them call the city home. In 2014, Dubai attracted 344,000 Chinese visitors, up 29% from 2013.

Hamad Al Abdooli, Senior Manager, Investment Support at Dubai FDI said Dubai FDI will emphasise how Dubai can enable businesses to grow and go global while pursuing innovations in strategic sectors such as technology, construction, retail, travel and tourism during their interactions with Chinese investors and businessmen.

"Dubai's infrastructure and connectivity remain a major attraction for businesses, chiefly exporters and re-exporters, looking for a wider global coverage. Almost 60% of UAE-China trade is re-exported to Africa and Europe. With the large scale infrastructure projects under way with an eye on the Expo 2020 and beyond, China has vast opportunities to showcase their resources and expertise on a global scale in Dubai," commented Al Abdooli. –end-

image by http://www.zawya.com/

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