His Highness Sheikh Mohamed bin Zayed Al Nahyan will attend celebrations marking the 40th anniversary of the establishment of diplomatic relations between the UAE and China, and will participate in the 10th Ministerial Conference of the China-Arab States Cooperation Forum…reports Asian Lite News
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan will commence a state visit to the People’s Republic of China on Thursday, 30th May, following an invitation from Chinese President His Excellency Xi Jinping.
During the visit, His Highness will discuss with President Xi Jinping the bilateral relations between the two countries and opportunities for further cooperation and collaboration, especially in the economic, developmental, and cultural fields. These discussions will be held within the framework of the Comprehensive Strategic Partnership between the UAE and China, aimed at contributing to both countries’ sustainable development and economic growth.
His Highness will also attend celebrations marking the 40th anniversary of the establishment of diplomatic relations between the UAE and China, and will participate in the 10th Ministerial Conference of the China-Arab States Cooperation Forum.
His Highness and the Chinese President will also discuss regional and international issues of mutual interest and the importance of cooperation and dialogue to promote global stability and peace.
China-Arab Ties
Zhang Yiming, Ambassador of the People’s Republic of China to the UAE, has emphasised the significance of the ongoing China-Arab Entrepreneurs Summit 2024 in Abu Dhabi.
In press statements on the sidelines of the summit, the ambassador said that the event centres on a series of issues, including green innovation, energy security, technological innovation, financial investment, digital transformation in the education sector, and other sectors, with the aim of strengthening practical cooperation between China and Arab countries.
He commended the extensive strategic partnership between China and the UAE, emphasising that the bilateral ties have upheld a robust trajectory in recent years under the guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Chinese President Xi Jinping.
Despite the global economic slowdown in 2023, trade between China and the UAE reached nearly US$100 billion, he said, highlighing the UAE’s status as China’s second-largest trading partner.
The Emirates is a primary market for Chinese exports, and the third-largest market for Chinese engineering projects in the Arab world, he added, noting the privileged bilateral cooperation across various sectors, with over 8,000 Chinese companies involved.
Chinese Ties With GCC
Chinese President Xi Jinping sent a congratulatory letter to the China-GCC Countries Forum on Industrial and Investment Cooperation held in Xiamen, east China’s Fujian Province.
According to China Central Television (CCTV), Xi emphasised the longstanding history of amicable exchanges between China and the Gulf Cooperation Council (GCC) nations, spanning over a millennium. The successful inaugural China-GCC Countries Summit in 2022 marked a significant milestone in enhancing collaboration between China and the GCC countries.
Deepening industrial and investment cooperation between China and GCC countries is conducive to better synergising the Belt and Road Initiative with the development strategies, visions and plans of the GCC countries, tapping into complementary advantages, jointly fostering new growth engines, and promoting the prosperity and development of both sides, Xi said.
China is willing to work with the GCC countries to promote unity and seek cooperation, writing new chapters of China-GCC relations, he said.
The forum opened in Xiamen on the same day. Themed “Embracing the Future: Advancing High-Quality Industrial and Investment Cooperation between China and GCC Countries,” the event was co-hosted by the National Development and Reform Commission and the People’s Government of Fujian Province.
Economic Ties
Trends Research and Advisory has issued a comprehensive report entitled “China Modernisation and the Development of China-UAE Relations”. The report highlights the growing cooperation between the two countries in various fields, including trade and investment, technology and culture.
The report addressed cooperation within the “Belt and Road” initiative. It stressed that the UAE is a major player in the land route of the initiative, linking China to Europe through Central Asia.
The report indicated that several major projects have been implemented within this initiative, such as the model park for cooperation in Chinese-UAE industrial capabilities, the second phase of the container terminal at Khalifa Port, and the Dubai Photovoltaic Thermal Power Plant.
The report also covered the economic and trade cooperation between the two countries, with China being the largest trade partner of the UAE for many years. The report pointed out that the UAE has maintained its position as the largest market for China’s exports in the Middle East.
The total volume of bilateral trade reached about $95 billion in 2023. The two countries seek to strengthen their economic relations and increase trade exchange to $200 billion by 2030.
China and the UAE established and managed the first joint investment fund between China and the countries of the Middle East. They signed the first agreement that considered the “Renminbi” as a recognised currency in the Middle East and established the first bridge of the “digital currency” between the central banks of three countries and four regions.
The Chinese Central Bank (People’s Bank of China) and its UAE counterpart signed an agreement to renew the currency swap between the UAE and China for a period of five years with a total value of $4.9 billion.
The report analysed the cooperation in the field of high-tech and highlighted the UAE-China cooperation in building the world’s first artificial intelligence university in Abu Dhabi.
The two parties cooperated to conduct the first phase of the international clinical trial of the Covid-19 vaccine. The report indicated that cooperation between the two countries in the digital economy, vital health, space, and other fields has also witnessed great progress.
Regarding close people-to-people and cultural exchanges, the report indicated that the “One Hundred Schools Project” for teaching Chinese in the UAE has become the leading model worldwide, and the UAE-Chinese Cultural Center will be operational soon.
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