Dubai-China bilateral trade soars to $36bn
Dubai, May 17, 2014
China has emerged as the second top trading partner of Dubai with its bilateral trade at Dh135 billion ($36.7 billion) in 2013, up 18 per cent over the previous year, according to a report from Dubai Customs.
The trade between Dubai and China was seen at Dh115 billion in 2012, stated Ahmed Mahboob Musabih, the director of Dubai Customs, after receiving Tang Weibing, China’s Consul General in Dubai and the Northern Emirates.
With regard to imports, China is the top trading partner of Dubai dealing in trade worth Dh130 billion, he added.
Ahmed Mahboob said, "Dubai takes on a vibrant role to keep the Chinese commodities flowing to the world. For the purpose of enhancing this role in a way that serves Dubai’s economic growth, we hold regular meetings with Chinese officials who are willing to expand the markets for their products by benefiting from Dubai’s position in global trade.”
Musabih pointed out that Dubai Customs’ endeavour to boost trade with China calls for closer economic ties and supports the flow of Chinese investments to Dubai; coupled with the growing number of Chinese companies that make Dubai their regional office for managing their business in a vast number of locations in Europe and Africa.
There are 4,200 Chinese companies, 356 Chinese trading agencies and 2,500 Chinese registered trademarks in the UAE.
The number of Chinese expatriates residing in the UAE exceeds 200,000 people. Tourism with China also saw a big surge recently, with 276,000 Chinese tourists flocking to Dubai in 2013, he added.-TradeArabia News Service