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Non-oil trade between the UAE and China increased by 78.5% from 2012 to 2021, reaching AED223.5 billion by the end of 2021, compared to AED125.1 billion in 2012.
According to the Federal Competitiveness and Statistics Centre (FCSC), the total non-oil trade between the two countries exceeded Dh1.72 trillion during the reporting period, of which Dh1.53 trillion was imported and Dh64 was non-oil export. 100 million dirhams and re-exports worth 121 billion dirhams.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, sent a congratulatory message to President Xi Jinping of the People’s Republic of China on the occasion of the National Day on 1 October.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, sent a similar message to the Chinese President.
His Highness Sheikh Mohammed bin Rashid Al Maktoum also sent a congratulatory message to Chinese Premier Li Keqiang.
The FCSC data also showed that non-oil trade between the UAE and China totalled AED118.4 billion in the first quarter of 2022, including imports worth AED102.7 billion, non-oil exports worth AED5.5 billion, and re-exports worth AED 9.8 billion. 2017 was the highest trade year in the past decade, worth AED 195.6 billion, a 15% increase over 2016. Telecommunications equipment topped the list of imports from China in the past year at AED 70 billion, followed by data processing equipment at AED 23.6 billion, medical vaccines at AED 4.1 billion, display screens at AED 2.5 billion, headphones and AED 2.5 billion. Amplifier 2.5 billion AED 4 billion in first place, followed by AED 1.9 billion for propylene polymers, AED 1.4 billion for rapeseed oil, AED 600 million for copper filings and AED 570 million Ram’s fatty oil extraction residue.
In the list of re-exports to China last year, telecommunications equipment topped the list with AED 8.3 billion, followed by data processing equipment at AED 2.09 billion, automobiles at AED 1.5 billion and primary nickel at AED 1.3 billion Mu is in second place. , and auto parts worth AED 600 million.
Meanwhile, Chinese investors registered a total of 113 licenses with the Ajman Department of Economic Development (Ajman DED), a 27% increase from last year, while Ajman’s exports to China amounted to nearly Dh2.5 million at the end of 2019. Ram. September 2022.
The figures were released by the department as it participated in the 73rd China National Day celebrations on October 1.
The department’s data also showed that the number of Chinese investors in the emirate stood at 475 as of September 2022, up 5 percent year-on-year.
Abdullah Ahmed Saif Al Hamrani, Director General of DED in Ajman, highlighted the close ties between the UAE and China as a global model worth emulating.
The development potential of the two countries is huge and the prospects are promising. The relationship between the two countries is based on mutual respect and common interests in the fields of economy, trade and investment. Separately, the world’s flagship free zone and the Dubai government’s Commodities Trade and Enterprise Authority, DMCC, recently announced that it has doubled the number of Chinese companies in its free zone, adding on average more than two Chinese companies per week.
DMCC has 703 Chinese companies, accounting for nearly 12% of Chinese companies in the UAE. This growth has benefited from the long-standing diplomatic and economic relationship between the UAE and China.
DMCC has played a vital role in strengthening the UAE’s trade relations with China and strengthening the presence of Chinese companies in Dubai. Since its inception, DMCC has signed a wide range of agreements with Chinese public and private entities to promote bilateral trade relations, and has hosted roadshows and webinars to facilitate the international expansion of Chinese companies.
DMCC has built a comprehensive infrastructure that caters to the Chinese business community, including the Yingtian China Business Centre DMCC established in 2017 to help Chinese companies wishing to set up companies in Dubai. In addition, DMCC’s website has also been launched in Chinese, further enhancing the ease of doing business in Dubai. In 2020, the China Service Center opened in Almas Tower, DMCC’s headquarters, offering Mandarin on-boarding support at all customer touchpoints, while setting up a representative office in Shenzhen to bring DMCC to the door of Chinese businesses.
The UAE and China have historically enjoyed good diplomatic and economic relations, working closely together to achieve common goals and principles. The UAE is China’s largest trading partner in the Arab world. In 2021, China is also the UAE’s largest trading partner, accounting for 11.7% of the UAE’s total foreign trade. .
WAM
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