UAE, China non-oil trade hits AED264.2bn in 2022

UAE, China non-oil trade hits AED264.2bn in 2022

Local News, Uncategorized















DUBAI / WAM

Abdullah Ahmad Al Saleh, Under-Secretary of the Ministry of Economy, held a bilateral meeting with Zhang Xiangchen, Deputy International Trade Representative for the People’s Republic of China, on the sidelines of the recently held UAE-China Economic Forum in Dubai.

During their meeting, the two sides discussed enhancing joint investment opportunities in new economic sectors, trade, logistical transportation, real estate, financial services, technology and insurance activities.

Al Saleh stressed that the UAE-China historical ties are based on strategic partnership and cooperation, and have witnessed great development over the past four decades in all fields, especially economic and trade, which serves the two countries’ development direction and supports the growth and sustainability of their economies.

“The UAE is China’s first Arab and Gulf trade partner during 2021. China is also the UAE’s first trade partner, as the value of non-oil intra-trade between the two countries amounted to more than AED 264.2 billion ($72 billion) in 2022, achieving a growth of 18 percent compared to AED 223.8 billion ($ 61 billion) in 2021,” he said.

Al Saleh continued, “The mutual investments between the two countries are witnessing continuous