Dubai South boosts ties with Shanghai organisations

By Staff Report

Published: Tue 2 Jul 2019, 4:51 PM

Last updated: Tue 2 Jul 2019, 6:53 PM

Dubai South has announced that it has boosted trade relations with Shanghai business organisations to support the new Belt & Road Initiative.
Dubai South signed two separate Memorandum of Understanding (MoU) with the China Council for the Promotion of International Trade Shanghai (CCPIT Shanghai) and the China Chamber of International Commerce Shanghai (CCOIC Shanghai) on Tuesday.
Khalifa Al Zaffin, executive chairman of the Dubai Aviation City Corporation and Dubai South signed the agreements while Yu Chen, vice chairman of CCPIT and CCOIC Shanghai signed on behalf of the organisations. The MoUs were designed to boost economic relations between Dubai and China aimed at increasing engagement in the multibillion-dollar project Belt & Road Initiative.
Both Chinese trade associations seek to further strengthen and promote economic and trade relations between Dubai and Shanghai through continued engagement aimed towards creating and adopting business opportunities across related enterprises. As part of the agreement, both parties agree to host and organize exchange visits for trade missions and project study groups for various economic and trade sectors and offer potential key services.
For its part, Dubai South will host various investment and business delegations from China who will be visiting the UAE to explore business opportunities focused on industries such as e-commerce, logistics, supply chain and trading. Dubai South is also expected to offer key support to Chinese companies and guide them through the process of setting up their businesses via a diverse range of business solutions. The agreement further explores the opportunity for CCOIC Shanghai to establish an official Dubai office to serve Chinese businesses operating in the GCC market and the region.
"China continues to enhance its trade and diplomatic ties in the GCC, especially in the UAE considering it is the fifth largest source market for the country. Out of 5,000 Chinese companies in the UAE, 4,000 of them are based in Dubai alone, which represents the strong market ties between Dubai and leading Chinese markets. The set of new agreements aim to promote cooperation initiatives between Dubai and Shanghai and expand investment options for key companies from both cities," Al Zaffin said.
- business@khaleejtimes.com