Latest news with #UAEChinaTrade
Arabian Business
29-06-2025
- Business
- Arabian Business
UAE and China launch service centre to boost $400bn China–Arab trade
The UAE and China have unveiled the Qingdao Overseas Integrated Service Centre (QOISC) at the China-Arab Business Forum in Qingdao, marking a major step to deepen economic ties and accelerate the record $400bn trade between China and the Arab world. Organised by the Qingdao Municipal People's Government and CHIMENA Business Council, and co-hosted by China's Ministry of Commerce and Shandong Province, the forum showcased the deepening of historic trade links that date back over 2,000 years via the Silk Route. Qingdao Overseas Integrated Service Centre boosts UAE-China trade QOISC established by SEPCOIII Electric Power Construction Co. Ltd. and Hisense Group to serve as a new bridge for China–Arab cooperation Aims to boost two-way trade, which exceeded $400bn in 2024 (up from $36.7bn in 2004) 40 projects worth $5.93bn signed across high-end equipment, new energy, new materials and next-gen IT More than 15,500 Chinese firms have invested over $6bn in the UAE Bilateral trade in 2024: Saudi Arabia $107.53bn; UAE $101.838bn (7.2 per cent year-on-year growth) Forum drew 465 multinational companies, including 135 Fortune Global 500 firms, under the theme 'Innovation-Driven, Mutually Beneficial' Mohammed Saqib, Secretary-General of CHIMENA Business Council said: 'The launch of the Qingdao Overseas Integrated Service Centre (QOISC) is a significant move that will play a significant role in accelerating the $400bn trade between the two growing economic blocks. 'The QOISC combines the strength of the public and private sector to push for greater economic cooperation that will bring not only the businesses, but also the peoples of these regions closer through trade, tourism and cultural cooperation.' China's engagement with Arab states is viewed as a strategic move to diversify partnerships and reduce reliance on any single power, particularly the United States. Chinese companies are increasingly involved in various sectors in Arab countries, including energy, infrastructure, manufacturing, and new energy. Chinese companies are participating in infrastructure projects like ports and industrial zones, contributing to the development of trade hubs in the region.
Arabian Business
26-06-2025
- Business
- Arabian Business
UAE and China deepen $100bn trade ties
The UAE and China are looking to develop $100bn trade ties and strengthen relations between the two countries. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of ADNOC, has completed a high-level working visit to China, strengthening bilateral relations and deepening economic cooperation across energy, renewables, and industry. China is the UAE's largest global trading partner, with bilateral trade surpassing $100bn in 2024 — a 7 per cent annual increase driven largely by an 18 per cent rise in imports. UAE-China trade In Q1 2025 alone, non-oil trade surged 18 per cent year-on-year, fuelled by: 32.5 per cent growth in exports 20.2 per cent increase in re-exports 12.7 per cent rise in imports During his visit, Dr. Al Jaber met with senior Chinese government leaders, including Lan Fo'an, China's Minister of Finance; Liu Jianchao, Head of the CPC's International Department; and Zou Jiayi, President of the Asian Infrastructure Investment Bank (AIIB). The meetings focused on enhancing the UAE–China Comprehensive Strategic Partnership and launching new joint initiatives that support sustainable economic growth and industrial development. Dr. Al Jaber also held talks with the heads of major Chinese corporations, including: China National Petroleum Corporation (CNPC) ZhenHua Oil China National Offshore Oil Corporation (CNOOC) China Investment Corporation (CIC) Wanhua (chemicals) Envision (renewables and smart energy) China Energy Engineering Corporation (CEEC) POWERCHINA International These discussions addressed opportunities for collaboration in oil and gas, LNG, refining, petrochemicals, renewables, and strategic infrastructure, while also exploring industrial investment, localisation, and clean energy transitions.
Zawya
30-05-2025
- Business
- Zawya
RAKEZ concludes series of strategic engagements across China to boost bilateral cooperation
Ras Al Khaimah: Ras Al Khaimah Economic Zone (RAKEZ) successfully concluded a multi-city business mission across China, further solidifying its role in advancing UAE-China trade and investment relations. The delegation participated in several high-level B2B engagements, the prestigious 'UAE – China (Sichuan) Economic & Trade Cooperation Promotion Conference' event, hosted by the Embassy of the United Arab Emirates in Beijing, as well as the Invest UAE Roadshow in Guangzhou led by the UAE Ministry of Investment. The events brought together senior officials, business leaders, and investors to explore cooperation in energy, logistics, technology, healthcare, green energy, and more. Through its participation, RAKEZ deepened dialogue with stakeholders, showcased Ras Al Khaimah's business appeal, and strengthened economic ties with one of its most important international markets. Reflecting on the success of the visit, RAKEZ Group CEO Ramy Jallad commented: 'China is a market of great strategic importance to us. Our continuous engagement across several provinces is part of a broader mission to foster resilient, future-focused partnerships. As an enabler of the Belt and Road Initiative, RAKEZ stands as a trusted platform where Chinese enterprises can establish, innovate, and thrive on a global scale. We are here to support their journey every step of the way.' During the Invest UAE Roadshow in Guangzhou, RAKEZ CCO Anas Hijjawi participated in a panel discussion on 'The UAE as a Manufacturing Hub for Chinese Companies Expanding Internationally'. In his remarks, Hijjawi introduced RAKEZ's dual-track industrial strategy. He first highlighted the zone's strong foundation in traditional manufacturing sectors such as metal processing, building materials, chemicals, etc., which have long been key pillars of Ras Al Khaimah's industrial landscape. He then introduced the economic zone's evolving vision through infrastructural initiatives like Tech Flex—an approach designed to attract technology-driven companies by leveraging synergies with its established industrial base. This transition is already taking shape through major developments like THi's USD 300 million high-tech industrial park and the USD 360 million Zhong A Shandong Industrial Park, which are drawing businesses in advanced manufacturing, wood processing, and food production. Building on this momentum, RAKEZ continues to capture interest from the Chinese business community through its collaborative and flexible approach. Rather than applying a one-size-fits-all model, the economic zone co-develops infrastructure and services with its partners, aligning with each project's unique goals. This has helped foster long-term relationships with over 200 Chinese enterprises across sectors such as LED lighting, packaging, recycling, and engineering. Key players such as China State Construction, Metally Industries, Maxtron Show Lighting, Zaiwei Construction, and THi have chosen RAKEZ as a base for regional operations. These enterprises are supported through streamlined licensing, scalable warehousing and industrial space, and visa facilitation—designed to accelerate set-up and support long-term growth. RAKEZ's efforts align with the UAE's broader role as a key trade partner for China. As China's largest commercial partner in the Arab world, the UAE serves as a critical re-export hub, with around 60% of Chinese trade channelled through the country to more than 400 cities across the MENA region. The economic zone's collaborations with leading Chinese industrial entities and development zones—including the Tianjin Pilot Free Trade Zone, Liaocheng Economic and Technological Development Zone, Zhong A Shandong Industrial Park, and Foshan Commerce Bureau—underscore the depth of its engagement. These relationships are further strengthened through regular outreach and roadshows in key cities such as Shenzhen, Foshan, Dongguan, Guangzhou, Liaocheng, and Tianjin. RAKEZ remains focused on fostering growth in next-generation sectors such as electric mobility, agri-tech, circular economy solutions, and speciality chemicals. Its industrial ecosystem, backed by sector-focused infrastructure and pro-investor policies, is poised to support the ambitions of Chinese businesses seeking international expansion and long-term regional relevance. About Ras Al Khaimah Economic Zone (RAKEZ): RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 30,000 companies coming from over 100+ countries and operating in more than 50 industries. RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers. A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
