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Mon 29 Jan 2007 10:25 AM

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$11bn trade along a ‘new silk road’

UAE-China bilateral trade figures could be further boosted by a successful free trade agreement.

Bilateral trade between the UAE and China has grown to AED40bn ($10.89bn) annually, according to a prominent UAE official.

This figure could be further boosted by a free trade agreement between the two countries, negotiations on which are currently underway.

His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Government Sector Development, received Chinese Ambassador Gaoy Sheng this week to discuss ways to enhance trade between the two countries.

Rapid growth in the Chinese economy, the increase in the number of Emirates’ flights to China to four times daily, and the easing of entry procedures for Chinese tourists visiting Dubai were other topics of discussion.

Later this week, 200 senior decision-makers from China and the Middle East will meet in Dubai as part of an exclusive summit organised by the Financial Times.

The 'FT China-Middle East Summit' will be held on January 30th at the Dubai International Financial Centre’s Conference and Exhibition Centre.  Panelists and speakers include Sultan Ahmed Bin Sulayem (Chairman, Dubai World), John Ridding (Chief Executive, Financial Times) and H.E. Dr Cheng Siwei (Vice Chairman, Standing Committee, National People’s Congress, China).

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