UAE-China trade forecast to hit $70bn by 2020 as ties grow

UAE International Investors Council says China takes the top position when it comes to UAE investment interest

Trade between China and the UAE is forecast to grow to $70 billion by 2020 as the Asian country tops a list of targets for UAE investors.

China has been the UAE’s largest trading partner for several consecutive years while the #UAE has become China’s second largest trading partner and largest destination of exports in the Middle East and North Africa region.

The UAE International Investors Council said hundreds of UAE companies are currently operating in China across various sectors including trade and industry, renewable energy, health and financial services.

But China also takes the top position when it comes to UAE investment interest, the Council’s secretary-general Jamal Saif Al Jarwan said in comments published by state news agency WAM.

He said that Chinese President Xi Jinping’s visit to the UAE highlights the strategic partnership between the two countries, based on the mutual trust, transparency and innovative capabilities to maximise economic growth.

“This state visit is historic in all respects,” said Al Jarwan, adding that it provides the two countries with an opportunity to integrate and maximise on opportunities.

The UAEIIC was established to act as a link between UAE international investors and government to enhance the competitiveness of UAE foreign investments. More

By Sam Bridge