New silk road to China

The UAE is in the process of signing a free trade agreement with China, according to a speech made by Sultan Ahmed Bin Sulayem, chairman of Dubai World. 

‘In China we have an ally in a good partnership with similar financial capabilities and businesses that is willing to make the necessary investments to develop both economies, and we are in the process of signing a free trade agreement with China,’ Bin Sulayem said yesterday. 

‘We are also interested in the growing Chinese tourism market and have already signed several cooperation agreements with the Chinese government.’ 

Speaking at the Arab Strategy Forum 2006, Bin Sulayem also called for the creation of stronger trade alliances with India. 

‘The two most important markets in the world at the moment are China and India. The growth potential in both markets is immense and needs to be supported by enough ports in the regions to facilitate that growth.  On top of that, we can learn from each others’ experiences in creating mutually beneficial relationships.’ 

‘Indian companies find Dubai a very convenient place to do business in. We are looking at future investments in real estate and port infrastructure development as well as at other major investments in the region.’ 

DP World already operates five ports in India, and handles 70 percent of the country’s container movements.     

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