UAE-China trade set to double to $106 billion in three years

Senior UAE officials at the UAE Pavilion at the International Horticultural Exhibition 2019 in Beijing. - Supplied photo

Bilateral trade between the UAE and China is expected to double in the next three years to cross $100-billion mark ties as socio-political and economic ties grows, said a senior official on Monday.
"Our trade with China will double to $106 billion within the next three years from $53 billion in 2017. We are paying attention across the board but more specifically on food security, energy, especially solar renewable energy, technology and artificial intelligence," said Dr Ali Obaid Al Dhaheri, UAE's ambassador to China.
"Trade and investments will grow bilaterally. China is very advanced in technology and artificial intelligence, therefore, I believe it is useful to attract investments from China in different sectors and share technology as well," Dr Dhaheri said after the inauguration of the UAE Pavilion at the International Horticultural Exhibition 2019 in Beijing.
Mansour Ibrahim Al Mansouri, director-general of the National Media Council (NMC), officially opened the UAE Pavilion at the Expo 2019 Beijing on Monday. The International Horticultural Exhibition 2019 will run in the Chinese capital from April 29 to October 7.
Managed and supervised by the NMC, the Pavilion will bear the theme "Greening the Desert". The launch ceremony was attended by Dr Rashid Khalfan Al Nuaimi, commissioner-general of the UAE Pavilion at Expo 2019 in Beijing; Dr Ali Obaid Al Dhaheri; Dawood Al Hajri, director-general of Dubai Municipality; and Najeeb Al Ali, executive director of Expo 2020 Bureau Dubai, along with a number of diplomats and senior officials.
"Our participation at the Beijing Expo 2019 is an ideal opportunity to introduce the world to the future-centred vision that our wise leadership has embraced since the days of the late Sheikh Zayed, and that has transformed the local agricultural sector into a major economic and developmental activity for the UAE," said Mansour Ibrahim Al Mansouri.
"The UAE has grown to lead the world in terms of the number of palm trees it has - and in a short period of time; this proves the Emirati people's ability to overcome the challenges and difficulties of our environment, from water scarcity and soil salinity to the harsh weather conditions," he said.
Al Mansouri noted that by taking part in the Expo, the NMC is looking to give visitors a glimpse into Expo 2020 Dubai, extending an invitation for them to attend the prestigious international event.
The UAE ambassador to China Dr Ali Obaid Al Dhaheri pointed out that free trade agreement (FTA) talks are currently underway with focus on both UAE-China negotiations as well as at GCC-China level.
He elaborated that another project is also underway whereby Chinese language will be introduced as part of curriculum across 100 schools in the UAE
"There are a lot of activities in the field of education, technology and science. More specifically, there is a project underway to introduce and teach Chinese language in about 100 schools. The project is in the process now and might cover more than 100 schools," the ambassador said after the inauguration of the exhibition.
Bilateral ties between the UAE and China are growing year-on-year. Earlier this week, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, attended the Belt & Road Initiative in Beijing as economic, political and cultural relations strengthen between the two nations.
There are currently more than 200,000 Chinese citizens living in the UAE. In addition, the Chinese tourists are also growing ever year, especially after the introduction of visa on arrival for the Chinese in UAE.
"The UAE is an attractive place for the Chinese and we are looking at more than 1 million tourists, based on the strong relationship between the two nations," the ambassador said, adding that the UAE Pavilion at Beijing Expo 2019 will bring people to people closer.
Najeeb Al Ali, executive director, Dubai Expo 2020, stressed that having a pavilion at Beijing Expo 2019 was a great opportunity as it is the last mega exhibition before the Dubai Expo 2020.
"It is good opportunity to give message of the UAE and Dubai Expo 2020 to millions of visitors coming to Beijing Expo. Since Dubai Expo 2020 is an international platform with 70 per cent of visitors expected from abroad, it is important that we get in touch with our counterparts and use every opportunity to get our message through," Ali said after the inauguration of the UAE pavilion.
China has already confirmed its participation for Dubai Expo 2020 and the Chinese pavilion will be one of the largest pavilion at Dubai Expo, he added.
"China has a huge experience of hosting expos and it had hosted Shanghai Expo 2010; we are in touch with our partners here and learned a lot from the Chinese experience and will gain more during the next six months," he added. - waheedabbas@khaleejtimes.com