Since China and the UAE established diplomatic ties in 1984, the bilateral relations have proceeded smoothly, and the trade and economic links becomes increasingly closer. In recent years, China-UAE economic and trade cooperation has shown a new landscape of comprehensive, pragmatic, efficient, and fast development with a brighter prospect. In July 2018, China and the UAE established comprehensive strategic partnership. There is a high convergence between China-proposed Belt and Road Initiative and the UAE Vision 2021 and "UAE Centennial 2071". China-UAE business relations are developing with strong momentum as the two countries are pushing forward the strategic integration of the BRI and the UAE's initiative of rejuvenating the Silk Road proposed by Abu Dhabi crown prince and UAE deputy supreme commander Sheikh Mohammed Bin Zayed Al-Nahyan and other development initiatives. As such, their trade and economic exchanges are becoming closer and bilateral relations are being deepening.
During Chinese President Xi Jinping’s visit to the UAE in 2018, China and the UAE decided to enhance the bilateral relations to the level of comprehensive strategic partnership and proposed to strengthen their in-depth cooperation in various fields.
The UAE's Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum said during his visit to China in 2019 that the UAE attaches great importance to its relations with China from a strategic perspective. The BRI will surely achieve great success and help BRI countries realize greater development. The UAE looks forward to deepening its traditional friendship with China, strengthening high-level exchanges and expanding cooperation in a wide range of fields.
Currently, the UAE has become the largest export market and the second largest trading partner of China among Arab countries. While the emirate of Dubai is a major trading partner of China, Many Chinese enterprises have chosen Dubai as a base for them to enter the markets in the Middle East and Africa. This report will briefly review the history of China-UAE economic and trade cooperation, analyze the development of economic and trade cooperation in recent years, and envision the prospect of China-UAE business cooperation. After analysis, we believe that the fast development of China-UAE economic and trade relations over the past 30 years should be attributed to the enabling business environment, huge economic growth potential, and the strong economic complementarity. Going forward, as the economic and trade ties get further linked, and policy communication becomes closer, the bilateral business cooperation will witness further transformation and upgrading, and be well on track of high-quality, high-standard development.
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