Page 31 - MOE ENGLISH PR REPORT - FEBRUARY 2024 ( International)

Press Release

UAE and China agree to strengthen collaboration in new economy,

entrepreneurship, tourism, technology, circular economy, aviation, and

logistics transport

During the eighth meeting of the Joint Economic, Trade, and Technical Committee

• H.E. Bin Touq: The United Arab Emirates (UAE) and China share a long-standing and

strategic relationship. This meeting marks a significant milestone in further enhancing the
strong economic partnership between the two nations, aiming to reach even higher levels of

competitiveness.
• Wang Wentao: The two countries are progressing in their strategic partnership, entering a

new stage of development and success. The Committee's meeting marks a significant
milestone in enhancing economic relations with the UAE.

• Both the countries have signed a memorandum of understanding (MoU) aimed at nurturing

the expansion of the digital economy and cultivating investment opportunities in digital
infrastructure, artificial intelligence (AI), and advanced technological applications.

• The two countries have reached a mutual agreement to introduce new programs aimed at

assisting SMEs operating within their respective markets. These initiatives will primarily
focus on the fields of FinTech, healthcare, advanced solutions, and innovative technologies.

• Strengthening bilateral efforts to further explore potential opportunities for cooperation in

the areas of clean energy and smart transportation solutions. This includes the potential
establishment of joint projects in these crucial sectors in the upcoming stage.

• Fostering collaboration between the two parties and offering comprehensive assistance to

exporters and importers in both countries, aimed at facilitating a greater flow of goods and
services and promoting diversification.

• Encouraging the Chinese business community to leverage the benefit of the business
environment in the UAE. It is worth noting that the number of companies operating in the

UAE has exceeded 788,000 by the end of 2023.