- Home
- Middle East
- UAE
- Our office in China a gateway for joint investments: Dubai Chamber Director-General
Our Office In China A Gateway For Joint Investments: Dubai Chamber Director-General
Rukhshan Mir (@rukhshanmir) Published July 19, 2018 | 05:15 PM
Hamad Buamim, Director-General of the Dubai Chamber for Commerce and Industry, said that the Chinese market is a major business destination and is a key part the expansionary foreign strategic plan of the Dubai Chamber for Commerce and Industry for 2017-2021 while noting that China is a strategic partner of the UAE, is the largest consumer market in the world, and is known for its productivity and advanced infrastructure.
DUBAI, (UrduPoint / Pakistan Point News / WAM - 19th Jul, 2018) Hamad Buamim, Director-General of the Dubai Chamber for Commerce and Industry, said that the Chinese market is a major business destination and is a key part the expansionary foreign strategic plan of the Dubai Chamber for Commerce and Industry for 2017-2021 while noting that China is a strategic partner of the UAE, is the largest consumer market in the world, and is known for its productivity and advanced infrastructure.
He added that the number of Chinese companies registered at the chamber has increased from 1,345 at the end of 2010 to 3,435 in 2018, a growth of 155 percent, reflecting the strong economic ties between the two countries.
Buamim stressed that the exports and re-exports by the chamber’s members to China during the first part of the current year are worth AED1.3 billion, a growth rate of 230 percent compared to the first part of 2017 when they totalled AED392.8 million.
He also noted that the chamber realised the importance of the Chinese market to its members, so it launched a representative office in Shanghai in 2016, which has become a key destination for Chinese investors who desire to invest in Dubai, as well as for Emirati investors who wish to expand their presence in the Chinese market.
He added that the chamber’s office in Shanghai, during the first part of the current year, held 57 meetings with 82 Chinese investors, organised a major event that was attended by 110 people, and participated in six local events to promote Dubai and its business environment.
Buamim further said that the chamber has held talks with several Chinese companies, such as C-Trip, China Eastern Airlines, Jiu food Supply and Distribution Logistics Group, the Shanghai Young Entrepreneurs Association and Shanghai ShintoG Metro Asset Management. The chamber also held many meetings with relevant Chinese authorities, including the Federation of Chambers of Commerce and Industry in Shanghai, as well as a special meeting with officials from the Shanghai government, to promote cooperation, he further added.
He affirmed that the services sector in China is the largest contributor to the Chinese economy, making up around 52 percent of the country’s GDP while the industrial sector represents 40 percent, and agriculture around 8 percent, which are also important sectors for Dubai.
Dubai provides Chinese companies with competitive advantages, due to its strategic location, advanced infrastructure, promising investment opportunities and outstanding expertise in vital sectors while the visit of President Xi will boost the mutual economic ties between the two countries, Buamim said in conclusion.
Related Topics
Recent Stories
3 Gawadar attack victims funeral offered
Mbappe says he will leave PSG at end of season
Usmani felicitates Sardar Saleem on taking oath as Punjab Governor
DC for provision of facilities to people in Lasbela
Solar storm could bring auroras, power and telecoms disruptions
Court grants interim bail to PTI leaders
Ulema, Mashaykh call for political accountability, collaboration for Pakistan's ..
SHRC asks NADRA to issue CNICs to transgender as per law
Flash floods kill 50 in one day in north Afghanistan
CDA chief expresses commitment to promoting modern-day technologies
By wide margin, UN General Assembly votes to back Palestinian bid for membership ..
Musadik slams PTI's political approach as provocative
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago