(MENAFN- Khaleej Times) The Dubai Economic Council (DEC) organised Dubai-Shanghai Dialogue: Innovation in Investment and Trade System between Dubai and Shanghai last week.
Dubai — Top government officials discussed the role of innovation in the promotion of trade and investment between Dubai and Shanghai.
The Dubai Economic Council (DEC) organised ‘Dubai-Shanghai Dialogue: Innovation in Investment and Trade System between Dubai and Shanghai’ last week. The event was held in the honour of Yang Xiong Mayor of Shanghai who was accompanied by high-level officials from the Chinese government.
Shaikh Ahmed bin Saeed Al Maktoum president of Dubai Civil Aviation and chairman of Dubai Airports said the event reflects ongoing efforts of the UAE leadership to consolidate trade relations between Dubai and China and further promote opportunities for cooperation and partnership between the two countries.
“We are proud of what the emirate of Dubai has established over the last few decades: a strong and sustainable reputation worldwide. Specifically the city is one of the outstanding experiences in the field of free zones at the regional and international levels. These free zones contribute about a quarter of Dubai’s GDP” said Shaikh Ahmed who is also chairman and chief executive of Emirates airline and Group.
He also said that the Dubai government is looking to strengthen relations with China in a number of vital areas particularly alternative energy transport communications industry. He expressed his desire to launch initiatives to strengthen economic relations with China especially with the city of Shanghai to be a strategic partner of the World Expo 2020.
Hani Al Hamli DEC secretary-general said the global economy since more than half a century has focused on globalisation and the freedom of trade and investment across the border. “Dubai and China have realised the gains that entail these phenomena when they established the Silk Road centuries ago which links the countries of China the Middle East and Africa via Dubai.”
He said that statistics show the UAE is the second largest trading partner for China in the Middle East and the largest market for Chinese commodities. China is Dubai’s main trading partner. Bilateral trade volume has grown over the years reaching $48 billion in 2014 increasing 29 per cent over 2013.
Dubai’s imports from China account for 15 per cent out of its total imports.
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