Page 34 - MOE ENGLISH PR REPORT - FEBRUARY 2024

Press Release

location, and leading economic role in the region. With a substantial investment of $10 billion, the
UAE has contributed to a joint Chinese-UAE investment fund aimed at bolstering projects under

the initiative in East Africa. His Excellency also thanked the Chinese Government for its efforts

in supporting the UAE to join BRICS as an observer.

The comprehensive strategic partnership between the two countries is moving towards a
new phase of growth and prosperity:

For his part, His Excellency Wang Wen Tao, Chinese Minister of Commerce, asserted that the

comprehensive strategic partnership between the Republic of China and the United Arab Emirates
is moving towards a new phase of growth and prosperity. The economic and trade relations

between the two countries are experiencing increasing growth and productive results in many
activities and sectors of mutual interest. He further noted that this year marks the 40th anniversary

of the establishment of diplomatic relations between the two countries, which comes in the light
of the forward-looking vision of wise leadership in the two countries.

He added: “The meeting of the Joint Economic Committee marks a new chapter in strengthening
economic and trade ties with the UAE and exploring promising investment opportunities in the

markets of the two countries in order to serve the economic visions and trends of the two
countries.” His Excellency commended the UAE for its backing of the "Belt and Road" initiative,

highlighting ongoing collaboration between the two sides to further strength the bilateral relations

between the two countries.

Supporting cooperation between the two countries in the digital economy:
The Committee witnessed the signing of a memorandum of understanding (MOU) between the

UAE Ministry of Economy and the Ministry of Commerce of China. This MOU is aimed at

promoting the growth of the digital economy in the UAE and China, and the development of
investment opportunities in the areas of digital infrastructure, artificial intelligence, and advanced

technological applications in line with the visions and strategies of these critical areas in the two
countries. The memorandum was signed by His Excellency Abdulla Bin Touq Al Marri, Minister

of Economy, and His Excellency Wang Wentao, Chinese Minister of Commerce.