A 100-member delegation from the Chinese city of HangZhou will visit Dubai to meet with top tier government and business leaders of Dubai at the ‘HangZhou-Dubai Economic Cooperation Forum’.

The initiative follows the recent visit of vice-president and prime minister of the UAE and Ruler of Dubai Shaikh Mohammed bin Rashid Al Maktoum to China.

Co-hosted by Dubai Chamber of Commerce and Industry, the half-day forum, due to be held tomorrow (May 5) at the Shangri-la Hotel in Dubai, will be attended by chairman of Hangzhou Municipal Congress Wang Guoping and Ambassador of the People’s Republic of China to the UAE Gao Yushen.

Including highly interactive industry specific seminars, the event will serve as an ideal platform for corporate decision-makers to explore investment opportunities and foster long-term trade between HangZhou and Dubai.

Located on the Yangtzi River delta area, HangZhou, capital of Zhejiang Province, is one of 15 vice-provincial level cities in China. Considered the cradle of Chinese civilisation, it is also one of the important tourism cities famous for its natural beauty as well as historical and cultural heritage.

With a per capita GDP of $8,063, it is ranked eighth among 659 Chinese cities.

The forum in Dubai will host industry workshops that will be facilitated by senior representatives from HSBC and PricewaterhouseCoopers drawing high level delegates from HangZhou in sectors such as service outsourcing, construction, manufacturing, IT and green townships. Greentown Real Estate Group, Zhejiang Haihua Property, Hangzhou United Bank, Hangzhou Commercial Bank, Dongguan Group, Hangzhou Wahaha Group Co, China Globe Crown Group, Dongguan Group and Dun An Holding Group are among the Chinese companies that will attend the forum.

“From the time China and the UAE established diplomatic relations in 1984, we made significant progress on the economic level as well. While China is now the UAE’s second largest import partner, the Hangzhou-Dubai Economic Cooperation Forum will continue to channel the flow of trade between the two destinations, highlighting potential opportunities in various industries,” said Ambassador Gao Yushen.

“HangZhou is by far one of the most promising economies in the world. Parallels can be drawn between the two rapidly expanding cities in relation to the enormous construction projects currently underway. Like Dubai, HangZhou is an attractive destination for leisure and tourism with potential development prospects across a spectrum of industries,” said second vice-chairman of Dubai Chamber of Commerce and Industry Hisham Abdullah Al Shirawi.
 
Dubai currently serves as the regional headquarters for an estimated 888 Chinese companies, with Chinese investment in the UAE currently standing at $300 million.
While the UAE’s total investment in China is now estimated at $1 billion, various organisations showed keen interest to channel more investments in the Asian giant. – TradeArabia News Service