An Abu Dhabi economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), has completed a successful visit to China. The trip resulted in groundbreaking agreements aimed at enhancing business, trade, finance, and technology partnerships. These agreements reaffirm Abu Dhabi’s commitment to strengthening ties with global economies, particularly China.
Boosting Bilateral Trade and Investment
A major outcome of the visit was the signing of a strategic cooperation agreement between the Abu Dhabi Government and the Shanghai Municipal People’s Government. This agreement spans multiple sectors, including technology, health, tourism, and ports. The Foreign Affairs Office of the Shanghai Municipal People’s Government and ADDED will oversee its implementation, ensuring alignment with UAE-China strategic goals.
During the six-day visit, the delegation met with top Chinese officials such as Chen Jining, Member of the Politburo of the Chinese Communist Party; Yin Yong, Mayor of Beijing; Gong Zheng, Mayor of Shanghai; and John Lee, Chief Executive of Hong Kong. These discussions further reinforced Abu Dhabi’s proactive approach to global economic collaboration.
Ahmed Jasim Al Zaabi
Chairman of ADDED
Ahmed Jasim Al Zaabi highlighted the significance of these agreements.
“The strong growth in bilateral trade and investments between the UAE and China reflects our shared vision. We remain committed to fostering deeper economic cooperation to drive global prosperity.”
Expanding Trade and Business Growth
Economic ties between the UAE and China have grown significantly in recent years. Bilateral trade surged from $2 billion (AED 7.4 billion) in 2000 to nearly $100 billion (AED 367 billion) in 2023. By the first nine months of 2024, trade had already reached $74.5 billion (AED 273.4 billion) and is projected to hit $200 billion (AED 734 billion) by 2030.
Chinese investments in the UAE increased by 16%, while UAE investments in China rose by 120%. Additionally, Abu Dhabi’s appeal to Chinese businesses has strengthened. The number of Chinese companies registered with the Abu Dhabi Chamber of Commerce and Industry grew by 38% in 2023 and 69.4% in 2024.
Key Agreements and Business Initiatives
As part of the visit, ADIO and ADGM signed agreements with leading Chinese firms, including:
- Fosun International Limited – a global innovation-driven consumer group.
- Hejun Group – one of China’s top consulting firms.
- Wind Information – a leading financial information services provider.
- Yicai – a financial media group offering insights on finance, technology, and entrepreneurship.
These agreements will introduce Abu Dhabi’s investment opportunities to Chinese businesses while enhancing investment intelligence. Additionally, they will support Chinese companies in expanding internationally and strengthening their ties with Abu Dhabi.
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) also signed a strategic cooperation agreement with the Shanghai Federation of Industry and Commerce. This partnership will streamline investment processes and promote bilateral trade.
Abu Dhabi-Shanghai Business Forum: A Key Platform
The Abu Dhabi-Shanghai Business Forum, organized by ADCCI, provided a valuable platform for fostering economic collaboration. It brought together Chinese and Emirati businesses, facilitating business-to-business (B2B) meetings and investment discussions.
By securing these strategic agreements, Abu Dhabi continues to strengthen its position as a global business hub. Moving forward, the emirate remains committed to fostering international partnerships that drive sustainable economic growth.
Also Read: Chinese Companies Strengthen The UAE Partnerships as Trade Bridges East and West
