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Tue 23 Jul 2019 03:18 PM

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Dubai-China bilateral trade hits $9.8bn in Q1

Dubai Customs says China has been top trading partner since 2014 with bilateral trade hitting AED139bn in 2018

Dubai-China bilateral trade hits $9.8bn in Q1
The figures were released by Dubai Customs on the sidelines of the visit by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China.

The value of trade between Dubai and China totalled AED36 billion ($9.8 billion) in the first quarter of 2019, it was revealed on Tuesday.

China has been Dubai’s top trading partner since 2014 and bilateral trade hit AED139 billion in 2018, Dubai Customs said in a statement.

It said telecoms, phones, PCs, aluminum, gold, automobiles, and engines topped the list of most traded commodities between Dubai and China.

The figures were released by Dubai Customs on the sidelines of the visit by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China.

The statement also said there are as many as 876 active Chinese businesses currently registered with Dubai Customs, including 623 firms holding trade licences, 244 licensed free zone establishments, and nine companies with professional licences.

During the Crown Prince's visit, an agreement between the UAE Federal Customs Authority and the General Administration of Customs of the People's Republic of China was signed for the implementation of the authorized economic operator (AEO) program.

Dubai Customs said it is already using some of China’s most advanced screening and inspection technology to scan containers, goods, vehicles and passengers across its various customs centres in Dubai, including in the flagship Port of Jebel Ali and Dubai International Airport.