Mansour bin Zayed chairs first 'UAE-China Investment' meeting
Addressing the meeting, His Highness Sheikh Mansour conveyed the greetings of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to President of the People's Republic of China, Xi Jinping, along with his best wishes for continued prosperity and growth in bilateral relations.
He also extended congratulations to the Chinese side on the occasion of the Chinese New Year.
Strengthening strategic ties
Sheikh Mansour emphasised that the meeting marks a significant milestone within the strategic comprehensive relations between the UAE and China, rooted in fruitful cooperation across sectors such as economy, investment, energy, and technology.
He highlighted that 2024 marked a significant year as the two countries celebrated 40 years of diplomatic relations.
Surge in bilateral trade
He indicated that bilateral trade between the UAE and China surged to US$102 billion in 2024, up 7% on the previous year, reflecting the accelerating growth of their economic ties.
He also praised China's continued commitment to strengthening its economic partnership with the UAE.
Renewal of investment fund and new agreements
The meeting saw the announcement of the renewal of the UAE-China Joint Investment Fund, originally launched in 2012. The fund has played a vital role in supporting impactful investment projects across several key sectors and will continue to serve as a mechanism for advancing joint strategic initiatives.
Additionally, several new agreements and memoranda of understanding were signed, covering cooperation in energy, advanced industry, digital economy, and emerging technologies.
Committee updates and presentations
The General Secretariat of the UAE-China Investment Cooperation Committee presented a comprehensive update on progress made by both sides. The session included presentations from committee members and representatives of relevant institutions, reviewing developments across vital investment and cooperation sectors.
Commitment to future growth
In closing, H.H. Sheikh Mansour reiterated the UAE's commitment to deepening its strategic partnership with China, supporting the ''Belt and Road'' Initiative, and to working to raise bilateral trade volume to US$200 billion by 2030, with a strong emphasis on collaboration in the energy sector to ensure energy security and sustainability.
Attendees from both sides
The meeting was attended by Mohamed Hassan Al Suwaidi, Minister of Investment; Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology; Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority, and Managing Director and Group Chief Executive Officer of Mubadala, and several officials.
The Chinese delegation included Zhao Chenxin, Vice Chairman, National Development and Reform Commission; Liu Bin, Assistant Minister, Ministry of Foreign Affairs; Xuan Changneng, Deputy Governor of the People's Bank of China; Li Ming, Vice Chairman of China Securities Regulatory Commission; Zhang Qingsong, Chairman and CEO of China Investment Corporation; Tan Jiong, President of China Development Bank, and other high-ranking officials.
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