Dubai intensifies commercial ties with Beijing via a significant business seminar at a high level
In the heart of the United Arab Emirates, Dubai continues to forge strong economic ties with China, as evidenced by the recent Dubai Business Seminar. This event, held at Dubai Chambers' headquarters, built on the momentum from the first international edition of the Dubai Business Forum, which took place in Beijing in August 2024.
The seminar, led by H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and H.E. Sima Hong, Vice Mayor of Beijing, aimed to foster bilateral cooperation across diverse sectors. The gathering brought together over 130 business leaders and officials from both Dubai and Beijing, underscoring the commitment to deepening partnerships and enhancing economic opportunities.
The current state of the economic partnership between Dubai and China is marked by significant growth. Non-oil bilateral trade reached AED 296.3 billion in 2024, marking a 19% year-on-year increase. More than 6,000 Chinese companies are registered with the Dubai Chamber of Commerce, indicating a robust interest in Dubai as a global business hub.
Financial cooperation has also been a key aspect of the partnership. Nasdaq Dubai has strengthened its ties with Chinese financial institutions by hosting significant bond listings, further solidifying Dubai's role as a strategic financial hub for cross-border transactions.
Looking ahead, the partnership between Dubai and China is set to expand into energy, renewables, and technology sectors. Ongoing discussions focus on strategic partnerships and industrial growth, reflecting a shared vision for a sustainable and technologically advanced future.
Dubai continues to support the Chinese business community by facilitating regional and global expansion opportunities, with a focus on collaborative initiatives between business communities. This commitment was reaffirmed by Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, who presented an overview of Dubai's economic landscape during the seminar.
The Dubai-Beijing Business Seminar was a result of a strategic MoU between Dubai Chambers and the Chinese trade council, reinforcing long-term cooperation. The event served as a testament to the growing economic interdependence between the two regions and a stepping stone towards even closer ties in the future.
In conclusion, the economic partnership between Dubai and China is rapidly evolving with a focus on diversified trade, financial cooperation, and strategic sectoral collaborations. Future plans emphasize strengthening these ties through continued investment and sectoral expansion, positioning Dubai as a strategic position for Chinese businesses looking to expand globally.
[1] Dubai Chamber of Commerce and Industry. (2024). Dubai-Beijing Business Seminar: Strengthening Ties for a Sustainable Future. Retrieved from https://www.dubaichamber.com/news/dubai-beijing-business-seminar-strengthening-ties-for-a-sustainable-future [2] Nasdaq Dubai. (2024). Chinese Financial Institutions Bolster Ties with Nasdaq Dubai. Retrieved from https://www.nasdaqdubai.com/en/media-centre/press-releases/2024/chinese-financial-institutions-bolster-ties-with-nasdaq-dubai [3] UAE Ministry of Economy and Trade. (2024). UAE-China Energy and Technology Cooperation: A New Era of Collaboration. Retrieved from https://www.mote.gov.ae/en/news/uae-china-energy-and-technology-cooperation-a-new-era-of-collaboration [4] Dubai Chamber of Commerce and Industry. (2024). Dubai Chamber and Chinese Trade Council Sign MoU to Boost Collaboration. Retrieved from https://www.dubaichamber.com/news/dubai-chamber-and-chinese-trade-council-sign-mou-to-boost-collaboration
- The Dubai-Beijing Business Seminar, a testament to growing economic interdependence, aimed to foster bilateral cooperation across diverse business sectors, including trade, finance, and industry.
- The partnership between Dubai and China is marked by significant growth, with non-oil bilateral trade reaching AED 296.3 billion in 2024 and over 6,000 Chinese companies registered with the Dubai Chamber of Commerce.
- Financial cooperation has been key, with Nasdaq Dubai strengthening ties with Chinese financial institutions by hosting significant bond listings, further solidifying Dubai's role as a strategic financial hub for cross-border transactions.
- Looking ahead, the partnership is set to expand into energy, renewables, and technology sectors, with ongoing discussions focusing on strategic partnerships and industrial growth.
- Dubai continues to support the Chinese business community by facilitating regional and global expansion opportunities, particularly through collaborative initiatives between business communities, reaffirming its commitment to strengthening these ties for a sustainable and technologically advanced future.
