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UAE to make debut on the 2019 CIFTIS on May 28

May 10, 2019


Abstract : On the 2019 China International Fair for Trade in Services (CIFTIS), the United Arab Emirates (UAE) will make its debut with a thematic session aiming at promoting China-UAE economic and trade activities.

BEIJING, May 10 (Xinhua) – On the 2019 China International Fair for Trade in Services (CIFTIS), the United Arab Emirates (UAE) will make its debut with a thematic session aiming at promoting China-UAE economic and trade activities.

Scheduled to be held on the opening day of this year’s CIFTIS on May 28, the session will focus on areas such as renewable energy, food safety, and artificial intelligence in an effort to attract more investment from China.

CIFTIS is a comprehensive platform specializing in boosting service trade between China and countries around the world, co-organized by China’s Ministry of Commerce and the People's Government of Beijing Municipality since 2012.

On Thursday, Ali Obaid Al Dhaheri, the UAE Ambassador to China told Xinhua in an interview that the UAE is a great believer in all aspects within the CIFTIS theme -- openness, innovation, intelligence and integration and these same elements underpin UAE’s strong relationship with China, as the two countries share the same beliefs in prosperity and open economies.

This year, CIFTIS has a broad range of industry forums and business negotiations on more than 20 topics, such as business, science and technology, culture, sports, finance and many more.

This wide scope reflects the comprehensive range of bilateral agreements between the UAE and China including these areas and beyond, therefore complements well the core aims and objectives of the UAE Embassy to China in enhancing the UAE-China relationship across an extensive number of fields, noted Ali Obaid Al Dhaheri.

For a long time, the UAE has been a reputed investment destination with sound business environment marked by stability, modern infrastructure, effective economic policy, and modern economic legislation.

The UAE has a flourishing and varied economy which attracts capital from all over the world and provides a strong opportunity for investment, said Ali Obaid Al Dhaheri.

Regarding opportunities for investment, Ali Obaid Al Dhaheri held that UAE’s developing economy offers numerous opportunities for growth in a broad variety of sectors including infrastructure, manufacturing, healthcare, education, artificial intelligence, tourism and energy.

Currently, the number of Chinese projects in the UAE has grown to about 4,000 which are worth two billion U.S. dollars. In just one of the many free zones across the UAE, the Jebel Ali free zone, there are more than 500 Chinese companies registered.

Earlier in May 2017, a Renminbi Clearing Center was set up in the UAE to facilitate bilateral trade, which is operated by the Agricultural Bank of Chin. Between January and November of 2018, 44.57 billion yuan in transactions has been handled, according to the UAE central bank.

To further bilateral trade and investment relationship, the central bank of the UAE is committed to improving the Renminbi clearing arrangements in the UAE, Ali Obaid Al Dhaheri added. (Contributed by Duan Jing, duanjing@xinhua.org)

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Keyword: UAE CIFTIS

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