UAE and China discuss cooperation in SMEs field

10/19/2015 7:47:35 AM

(MENAFN- Emirates News Agency (WAM))

YUEXIU China 19th October 2015 (WAM) -- Juma Mohammed Al Kait Assistant Under-Secretary for Foreign Trade Affairs at the Ministry of Economy has discussed with a number of Chinese government officials and businessmen ways to promote the exchange of experiences in Small and Medium Enterprises SMEs between the two countries.

This came during a meeting held with members of the International Chamber of Commerce in Guangdong Province south China on the sidelines of the UAE delegation's participation at China Import and Export Canton Fair 2015.

The meeting covered opportunities to increase trade cooperation especially in light of the possibilities and capabilities of the Chinese province which represent the fourth largest province in terms of Chinese exports.

Al Kait who heads the UAE delegation to the exhibition emphasised that to build strong trade and economic relations with the largest possible number of different Chinese provinces supports the economic objectives of the UAE to diversify its foreign trade and promote activity of non-oil economy sectors.

He pointed out that China is the second largest trading partner of the UAE and has many promising opportunities at the trade and investment level. In contrast the UAE has many promising opportunities in various economic sectors in light of its vision to enhance non-oil economic activities which have seen remarkable growth as the contribution of non-oil sectors has risen to more than 69 percent of the UAE Gross Domestic Product GDP and is targeted to increase in the future.

He stressed that the Ministry of Economy's enthusiasm to attend the Chinese Fair through a large trade delegation of SMEs comes within the framework of its interest to transfer Chinese expertise and take advantage of China's distinctive achievements in this sector.

For his part an official of the Chinese Ministry of Economy pointed out the importance of the United Arab Emirates for Chinese investors referring to the county's commitment to exploring investment opportunities especially in light of the successes achieved by many Chinese companies operating in the UAE market.

WAM/Hanaa/Moran

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