Giant delegation visits UAE on fact-finding mission to internationalise commerce.
Lootah: “The commerce go to was an incredible success, with the signing of an MoU heralding a brand new period in nearer commerce ties between Dubai and China.”
Expandable commerce alternatives embody ships and boats, textiles, and gums and resins, in addition to silk product exports from the UAE to Hong Kong and China.
Dubai Chambers has welcomed a big enterprise delegation from the Hong Kong-based Chinese language Basic Chamber of Commerce (CGCC). As a part of the go to, the 2 chambers signed an MoU aimed toward bolstering financial cooperation.
Dr. Jonathan Choi, Chairman of Chinese language Basic Chamber of Commerce, headed a 26-strong visiting delegation of senior Hong Kong businesspeople together with buyers, financiers, and realtors. The MoU, which was signed as a part of the group’s three-day tour of the UAE, seeks to strengthen mutual ties between the events with the objective of additional enhancing enterprise relations.
Below the phrases of the settlement, the 2 chambers will discover alternatives to spice up information sharing, improve mutual help on commerce and funding missions, and cooperate on participation in commerce gala’s, conferences, enterprise matching occasions, and different networking actions.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, mentioned: “The commerce go to was an incredible success, with the signing of an MoU heralding a brand new period in nearer commerce ties between Dubai and China. We shared with the delegation the Chamber’s imaginative and prescient, mission, objectives, and actions, in addition to a number of the present challenges and alternatives dealing with the UAE enterprise group.”
Commenting on commerce alternatives, he added, “We’ve strong exports and imports between our nations, however can do extra. We see nice potential in importing extra attire, boats and elements, iron and metal, and textiles. By way of exports, our information signifies there are alternatives for the UAE to export extra ships and boats, textiles, gums and resins, and silk merchandise to Hong Kong and China. From an funding perspective, we see some thrilling alternatives in agriculture, manufacturing, the providers sectors, and expertise, which we hope this MoU will encourage.”
In February, Dubai Worldwide Chamber, one of many three chambers working below Dubai Chambers, introduced the opening of a brand new Hong Kong consultant workplace as a part of the ‘Dubai International’ initiative. Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Govt Council, the initiative seeks to ascertain 50 consultant places of work for Dubai in 5 continents by 2030. Led by Dubai Worldwide Chamber, Dubai International goals to draw overseas MNCs, SMEs, buyers, and worldwide expertise to Dubai by showcasing the emirate’s aggressive benefits, sharing funding intelligence, and boosting engagement with abroad stakeholders.
The UAE’s second-largest import from China is equipment, adopted by autos and elements. After electronics, China primarily imports plastics, autos and elements, and equipment from the UAE.
Based in 1900, the Chinese language Basic Chamber of Commerce is likely one of the oldest and largest chambers in Hong Kong. It enjoys shut ties with mainland China, significantly by its help for the Belt and Street Initiative and the event of the Guangdong–Hong Kong–Macau Larger Bay Space (GBA). Just lately, the Chamber has targeted on advancing the globalization of its members, a prospect which Dubai Chambers welcomes with the signing of the brand new MoU.
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