UAE Concludes Successful Participation at China International Fair for Investment and Trade in Xiamen

Abu Dhabi-UAE: 15 September, 2014 – A UAE delegation led by the Ministry of Economy has concluded its successful participation at the 18th China International Fair for Investment and Trade (CIFIT) that was held from September 8 - 11 at Xiamen, China. 

His Excellency Abdullah Al Saleh, Undersecretary for Foreign Trade, Ministry of Economy, headed the delegation that included federal and local government officials in addition to representatives of public and private sector enterprises. 

During the visit, Al Saleh met with several high-ranking Chinese officials to discuss economic and trade relations and ways to further strengthen mutual cooperation. 

His Excellency Abdullah Al-Saleh said: “Strong bilateral relations between the UAE and China relations are of high importance to both sides. China is the second largest trading partner for the UAE and its largest exporter. Our meetings and discussions with Chinese officials focused on cementing the UAE’s ties with China’s central government and provincial administrations.” 

He added: “This year’s participation marked the UAE’s third outing at CIFIT. The UAE’s presence at the event helped promote the country’s investment-friendly and enabling environment among investors looking to expand their business interests across the Middle East, Africa and the Mediterranean. We have invited the Chinese authorities to participate in the Annual Investment Meeting organized by the Ministry of Economy in the UAE from March 30 – 1 April. The platform will give China the chance to discuss investment opportunities with representatives from more than 60 countries.” 

On the sidelines of CIFIT 2014, His Excellency Abdulla Saleh and the UAE delegation visited the Torch Zone, the Hi-tech entrepreneurial incubator in Xiamen. With its unique set-up and policies, Torch Zone successfully contributes up to 40% of Xiamen city’s GDP while occupying only 1% of Xiamen land. 

During CIFIFT 2014, Etihad Airways, the national airline of the UAE, announced the launch of its Abu Dhabi - Hong Kong services, four times a week starting June 15, 2015. Together with Shanghai, Beijing and Chengdu daily flights, Etihad Airways currently flies to four China cities and offers 25 connections between Abu Dhabi and China. 

His Excellency Eng Saed Mohamed Al Awadi, CEO, Dubai Exports, said: “UAE and China have reinforced and expanded their partnership in recent years, and are keen to realize the full extent of their economic potential. As an agency of the Department of Economic Development in Dubai, Dubai Exports is keen to promote the growing engagement with China and support businesses looking to establish operations in Dubai.” 

Saif A Al Shehhi, SMD-AD Government & VVIP Clients, National Bank of Abu Dhabi, said: “Our participation is in line with NBAD’s objective to benefit from the strategic importance of the UAE as a vital link between Africa and Asia. Operating in 18 countries, NBAD has the largest international network among the UAE’s banks. In China, we have representative offices in Shanghai and Hong Kong. Our future plans include expansion into emerging markets and partnering with key stakeholders in corporate banking, energy, transport and aviation, real estate and family businesses.”   

UAE-China relations have been steadily growing in scale and significance. China is the second largest trade partner and largest exporter to the UAE. Non-oil trade volume reached US$ 40.4 billion in 2013 and growth in trade is estimated at 16% annually. The UAE is home to 4,200 Chinese companies and the Ministry of Economy currently lists more than 2,500 registered Chinese trademarks. Some 3,00,000 Chinese nationals currently reside in the UAE.