Business delegation from Abu Dhabi visits China, highlights potential for stronger cooperation

A delegation of about 140 senior officials and business executives from different sectors in Abu Dhabi is in China, exploring new opportunities that the world's second-largest economy offers, according to a press release that the Embassy of the United Arab Emirates (UAE) in China shared with the Global Times.

The visit, which takes place from February 17 to 21, led by the Abu Dhabi Department of Economic Development (ADDED), is part of ongoing efforts to strengthen partnerships with China.

During the visit, the delegation will meet government officials and key businesses and investors in Beijing, Shanghai, Shenzhen, and Hong Kong to explore business opportunities and foster strategic relations with Chinese counterparts, the embassy said.

The high-level delegation is comprised of representatives from both government and the private sector, including Abu Dhabi Global Market, the Abu Dhabi Investment Office, Abu Dhabi Customs, the Abu Dhabi Chamber of Commerce and Industry, and major companies from different sectors.

Ahmed Jasim Al Zaabi, chairman of ADDED, said in the press release "Our longstanding relations with China are going from strength to strength, as reflected by the growth of bilateral trade and mutual investments over the past few years."

"We are doubling down our efforts to take it to the next level by deepening cooperation and exploring new opportunities in various sectors to create more partnerships," the chairman said.

With (annual) bilateral trade between China and the UAE projected to reach $200 billion by 2030, Abu Dhabi is reinforcing its position as an essential gateway for Chinese investment in the Middle East and beyond, the embassy said, noting that so far there are about 6,000 Chinese companies operating in the UAE across key sectors, including technology, financial services and energy.

The visit of the delegation underscores the growing importance for both China and the Gulf Cooperation Council (GCC) country to expand economic and trade cooperation, given the high complementarity between the two sides, Niu Xinchun, executive director of the China-Arab Research Institute of Ningxia University, told the Global Times on Wednesday.

In recent years, China's two-way investment with GCC countries, including the UAE, has grown rapidly. China is a key trading partner of the GCC countries, which import machinery, electronics, vehicles, clothing, and consumer goods from China, while exporting raw materials like oil, gas, aluminum, and petrochemicals to China, according to information published on the official website of China's Ministry of Commerce.

Under the Belt and Road Initiative, China has increased its investment in infrastructure projects in the Gulf countries, including the construction of roads, ports, and industrial projects. Meanwhile, the GCC countries are investing in China across various sectors, including technology and renewable energy industry.

"The UAE is undergoing economic and industrial reforms and diversifying its economy to reduce dependence on oil. In this process, China's efforts in upgrading its industrial sector, with the world's leading production capacity and complete industrial and supply chains, have played a crucial role," Niu said.

Moreover, China holds advantages in new-energy sectors like electric vehicles, while its burgeoning strengths in high-tech fields such as artificial intelligence offer valuable insights for Middle Eastern countries, Niu said, predicting that there will be more exchanges, such as business delegations, as bilateral cooperation expands.