New foreign investment mission takes place from Sunday as China maintains its position as Dubai's biggest trading partner
Dubai FDI, the investment development agency of Dubai Economy (DED), is set to embark on its latest investment mission to China.
The mission to Shanghai and Shenzhen from June 24-29 will include government and business leaders.
The delegation will include representatives from Dubai FDI, Dubai South, Dubai Healthcare City Authority, Expo 2020 Dubai, Emirates Skycargo.
They will engage in an interactive platform to discuss Dubai’s initiatives in facilitating foreign direct investments (FDI) through Dubai Advantage Forum 2019 in Shanghai on June 24 as well as take part in several business meetings in China on June 25.
A roundtable discussion will be held in Shenzhen on June 27 followed by direct visits to major Chinese companies and business meetings on June 28.
Fahad Al Gergawi, CEO, Dubai FDI, said: “Dubai has always played an important economic hub for Asia and this role continues to evolve towards greater heights following China’s launch of the Belt and Road initiative, the new global trading highway designed to link Asia to Africa and Latin America directly through the Middle East.
"With the emirate’s current strategic position as a regional base for many Chinese companies, the Dubai Government continues to engage in initiatives that would further promote the ease of doing business in the emirate for China’s public and private sector in line with its global ambition to pave the way for the new Silk Road.”
The mission takes place as China maintains its position as Dubai’s biggest trading partner with its market value reaching AED139 billion in 2018.
The wider UAE has been a strong bilateral trade partner of China, which is its second largest trading partner, valued at over AED194,000 billion which is expected to soar up to AED257 billion by 2020.
Following a recent agreement, a 60-million square feet Traders Market which received AED8.814 billion of Chinese investments will be built opposite Dubai’s Expo 2020 site, aimed at providing an international station for storing and shipping Chinese products from Jebel Ali to the world.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.