DUBAI, Nov. 26 (Xinhua) – China Economic Information Service (CEIS) of Xinhua News Agency released a report on prospect of China-UAE trade and economic cooperation under the Belt and Road Initiative in 2019 on the 3rd NEXT Summit held here Monday.
China-UAE economic and trade cooperation has gone through three phases featuring slow growth, rapid development, and transformation and upgrading as well in the past three decades and currently enjoys broad prospects given their high economic complementarities, the report says.
The report holds that as the UAE tries to shake off its heavy dependence on energy production and export and develops downstream sectors, its efforts in strengthening cooperation with China in various fields within the framework of co-building the Belt and Road has injected new impetus to sustainable development of the two economies and expand the scope where China and the UAE can complement each other economically.
The superior business environment and great potential for future economic development of the two countries and deepening bilateral policy coordination also lay a solid foundation for China-UAE cooperation, the report notes.
The report predicts that there is great potential for further cooperation between China and UAE in fields such as infrastructure construction, renewable energy, oil production and processing, aerospace, communications, etc.
CEIS is one of the hosts of the summit, which was kicked off in Dubai Monday and co-hosted by NEXT Federation, CEIS and the Dubai Department of Economic Development (DED) to explore opportunities for international cooperation.
(Edited by Duan Jing, duanjing@xinhua.org)
To download the report, please visit Xinhua Silk Road Database: https://en.imsilkroad.com/
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