Friday 12 August 2022

Dubai, Shanghai sign bilateral trade agreement

DUBAI, September 12, 2018

Dubai Chamber has signed an agreement with the Shanghai Federation of Industry and Commerce aiming to facilitate bilateral trade and investment, build bridges between the UAE and Chinese business communities and encourage knowledge sharing.

The agreement was reached when a high-level delegation from the Shanghai Federation of Industry and Commerce (SFIC) led by Zhao Fuxi, executive vice chairman, SFIC visited the Dubai Chamber of Commerce and Industry.

The visiting delegation, joined by 12 representatives from the Shanghai Federation of Industry and Commerce, was received by Hamad Buamim, president and CEO, Dubai Chamber, and Omar khan, Director on International Offices, Dubai Chamber.

Addressing the delegation, Buamim elaborated on the unique trade relationship between Shanghai and Dubai, which has strengthened in recent years thanks to high-level visits from both sides. He explained said the Chinese delegation’s visit was a positive step which built on progress achieved during Dubai Chamber’s delegation visit to Shanghai earlier this year.

Buamim noted that China remains Dubai’s top trading partner with $48 billion in bilateral non-oil trade accounted for in 2017, and added that the number of Chinese companies registered with Dubai Chamber has increased steadily to exceed 3,400 today.

In addition, Buamim explained that Dubai Chamber’s representative office in Shanghai is actively promoting Dubai as an attractive investment destination, and identifying new opportunities in China which offer the most potential for Dubai Chamber members and businesses in Dubai.

Zhao Fuxi welcomed recent efforts to boost economic cooperation between Dubai and Shanghai, and lauded Dubai's leadership and proactive approach to building international partnerships and diversifying its economy. He stresses the important role that Dubai Chamber’s Shanghai office is playing in guiding and assisting Chinese companies that are keen to trade with Dubai, and expand their global reach through the emirate.

Fuxi also noted that companies in Shanghai are very interested in the Dubai market and participating in Expo 2020 Dubai, which he described as an important platform that Chinese companies can leverage to boost their global profile.

Earlier this year, a high-level delegation led by Dubai Chamber visited Shanghai and met with stakeholders from the city’s public and private sectors to discuss new cooperation opportunities within the aviation, logistics and e-commerce sectors. – TradeArabia News Service

Tags: Dubai Chamber | Trade | Shanghai |

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