Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE envoy sees 30 per cent jump in China trade  Join our daily free Newsletter

MENAFN - Khaleej Times - 07/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The proposed ?21st century maritime silk road? will open up greater business opportunities for all the countries involved in it.

the uae expects a 30 per cent jump in bilateral business with china in the next two years according to uae ambassador in beijing omar al bitar.

“we expect the bilateral trade to go up from 46 billion in 2013 to 60 billion by 2015” al bitar told khaleej times on the sidelines of the china-arab states cooperation forum (cascf) held in beijing on thursday.

he was also upbeat about the chinese proposal to revive the ancient maritime silk road which will also involve arab countries including the uae. the proposed “21st century maritime silk road” will open up greater business opportunities for all the countries involved in it he said.

“multinational cooperation has a positive effect on all countries. it adds to world economy. development and growth replaces troubles brings welfare to the people everywhere” he said.

al bitar said that the uae is eager and ready to absorb enhanced chinese investments because its special geographical location and strong financial centre. “uae is the first destination for chinese goods in the arab world. it is china’s second trade partner from the chinese perspective” he said.

in his keynote address to the cascf chinese president xi jinping stressed the huge opportunities that could be tapped in the field of china-arab nations partnership. “what china pursues is common development. we want to achieve development for ourselves and we want to enable others to grow as well” he said.

china was keen to put more money into projects in arab countries which attracted just 2.2 billion worth of chinese investments last year. plans also include a drastic 50 billion increase in china’s non-financial investment stock in arab states from 10 billion last year to over 60 billion in the coming decade he said.

“where there is a gap there are potential and opportunities” xi said. chinese companies want to enhance investments in such fields as energy petrochemicals agriculture manufacturing and services of arab states.

in the next five years china will import over 10 trillion in goods and make more than 500 billion in direct investment abroad. this opens up huge opportunities for arab countries to attract chinese investments xi said.

china’s imports from arab countries amounted to 140 billion in 2013 which was only about seven per cent of the 2 trillion worth of goods china imported from across the globe he said while emphasising the vast opportunities that remain to be tapped.

“china will encourage chinese companies to import more non-petroleum products from arab states to improve trade mix and raise the two-way trade volume from 240 billion last year to 600 billion in the coming decade” xi said.

news?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 May 22 2015 - Arab info. ministers agree to promote culture of toleranceKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Arab information ministers' council concluded its 46th session on Thursday with a final statement stressing the important role of mass media in promoting the ...

 May 22 2015 - Kuwait, Peru eye closer diplomatic ties, cooperationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Head of the Kuwait's fourth parliamentary friendship committee MP Yousef Al-Zalzalah met with President of the Congress of the Republic of Peru Ana Maria ...

 May 22 2015 - Kuwaiti-Moroccan ties based on shared values - OfficialKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Advisor to Kuwait's Amiri Diwan Mohammad Difullah Sharrar said his country and the Kingdom of Morocco share identical cultural and historical values that formed a ...

 May 22 2015 - Kuwaiti play wins gold at Free Theater FestivalKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Kuwaiti play 'Hawel Marrah Okhra' (Try Again) won the golden award of the 10th Free Theater Festival on Thursday evening.The silver and bronze medals went to ...

 May 22 2015 - Kuwaitis proud of nat'l pavilion at Expo Milan 2015Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The spouse of Kuwait's General Consul in Milan and North Italy, Abdul-Nasser Bou-khaddour, praised here role of the Kuwaiti pavilion organizers in Expo Milan ...

 May 22 2015 - Kuwaiti Jiu Jitsu team participates in West Asia tournamentKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Kuwait's Brazilian Jiu Jitsu team will head to Beirut, Lebanon on Thursday to take part in the three-day West Asia tournament.The Kuwaiti team includes seven ...

 May 22 2015 - Kuwait ranks 4th at Fazza wheelchair basketball tourneyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Kuwait's national team lost their last game to Morocco's 44-71 at the the Seventh Fazza International Wheelchair Basketball Tournament, Dubai 2015, Wednesday ...

 May 22 2015 - OCA cancels Sri Lanka's hosting of Asian Youth Games 2017Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) President of the Olympic Council of Asia (OCA) Sheikh Ahmad Al-Fahad Al-Sabah announced Thursday that the Council has withdrawn the 3rd Asian Youth Games in 2017 ...

 May 22 2015 - Chinese peacekeeping troops head for LebanonKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) A new batch of Chinese peacekeeping troops and a 30-member medical team left China for Lebanon Tuesday for peacekeeping mission, state-run China Central ...

 May 22 2015 - Seven airstrikes in Syria, 14 in Iraq target ISIL - coalitionKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Coalition military forces continued to attack ISIL, conducting seven airstrikes in Syria and 14 in Iraq, the Combined Joint Task Force announced on Tuesday."In ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help