Page 125 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

Abdullah bin Touq Al Marri, Minister of Economy, said that the UAE and China share a historical
and strategic relationship characterised by the building of closer cooperation across all areas,
particularly in the economic and investment sectors.

He attributed the strength and vitality of bilateral relations to the shared commitment of both
leaderships to advancing them through constructive cooperation, promoting mutual investments,
and enhancing the growth of Emirati and Chinese companies operating in both markets.

During his speech at the Forum, Bin Touq said, “We consider the Chinese business community
a key economic partner of the UAE’s business sector. The total number of Chinese businesses
operating in the UAE's markets has reached around 15,500 so far. We are confident that the
shared visions and strategies to expand cooperation into new economic sectors will further
strengthen and advance our economic and investment relations.”

He noted, “The UAE-China Business and Investment Forum is an important platform for
advancing bilateral economic and investment cooperation, supporting joint efforts to develop
more fruitful partnerships and agreements at the governmental and private sector levels. The
platform contributes to enhancing the ability of Emirati and Chinese companies to benefit from
the diverse economic and investment opportunities in the markets of the two countries,
particularly as the UAE and China boast promising economic fundamentals and strategic
geographical locations that enable access to strategic markets in Asia, Africa and Europe.”

Bin Touq elaborated on the UAE's new economic model and its role in supporting the economic
goals of the ‘We the UAE 2031’ vision and discussed the advancements in the country's
legislative and economic landscape. These include the introduction of new legislation and
policies that have increased the UAE’s attractiveness for foreign direct investments. These
measures have strengthened the competitiveness of the national economy at both regional and
global levels and improved its overall attractiveness.

Within this context, Bin Touq invited Chinese companies to leverage the available opportunities
in the UAE’s business environment and expand their presence across various key sectors,
including tourism, aviation, circular economy, FinTech, e-commerce, infrastructure, Artificial
Intelligence (AI), healthcare, smart transportation, and sustainable manufacturing.

Furthermore, he highlighted that the tourism industry serves as a key pillar of economic
cooperation between the two countries, having witnessed continued growth across all its sub-
sectors.

The total number of Chinese visitors to the UAE stood at around 1.2 million in 2023, marking a
remarkable growth of 213 percent compared to 382,206 tourists in 2022. There are currently 44
flights operated by the UAE’s national carriers connecting the two countries every week.

In his opening address, Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers,
highlighted that China’s status as the UAE’s top trading partner speaks volumes about the
thriving relations between the two nations.

He emphasised that, considering the growing importance of the Chinese market and its
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