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, (Pakistan Point News - 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.
