December 4th, 2015

Open a new chapter in Sino-Arab cooperation

(From November 29, 2015, the Asia Pacific Exchanges and Cooperation Foundation, Administrative Bureau of Qianhai FTA jointly paid a visit to the United Arab Emirates(UAE). This is an important step to strengthen the Sino-Arab bilateral investment and trade under the "One belt one road" strategy and consolidate the friendship between the two peoples.

The UAE government, the Government of Dubai, the government of Las hippocampus and related government agencies attach great importance to the visit. On the morning of Nov. 30, UAE Deputy Minister of Economy Mr. Abdullah Saleh arranged a special meeting with the delegation to discuss how to promote bilateral economic and trade relations, he described in detail the UAE's development plan for 2021. Mr. Xiao Wunan, executive vice chairman of the APECF introduced China’s “going out" strategy and potential opportunities for the Middle East. Chen Hai, assistant to the director general of Qianhai administrative bureau introduced Qianhai's development and strategic planning. The meeting has achieved desirable result for both sides. Later, the delegation visited the Dubai Economic Committee, Secretary-General of the Commission Hani Rashed Al Hamid gave the delegation a warm welcome and highlighted the promising prospect for Sino-Dubai economic cooperation. He also facilitated a meeting between the delegation and most well-known economists from the country. Mr. Xiao Wunan gave comprehensive introduction about China's future economic development and made constructive exchanges on China's economic growth, foreign investment and other concerns; The delegation also took interviews from the local mainstream medias. Afterwards, the delegation visited Jebel Ali Free Trade Zone, the largest of its kind in Dubai and was briefed by Adil, Vice President of the FTZ. They have exchanged opinions on cooperation opportunities between Qianhai and Jebel Ali and reached broad consensus.

UAE Deputy Minister of Economy Abdullah Saleh (left); Executive vice chairman of APECF Mr. Xiao Wunan(middle); Assistant to Director General of Qianhai administrative bureau Mr. Chen Hai(right)

Upon arrival on Nov. 29, the delegation paid a visit to Las hippocampus FTZ, the Board Chairman of the FTZ Royal Prince Ahmed Excellency received the delegation in person and attached great importance to the visiting delegation, the Excellency and Mr. Xiao witnessed the signing of cooperation agreement between the Qianhai FTZ and Las hippocampus FTZ.

UAE and China enjoy good political relations; China is now its second largest trading partner. With the advance of China's "One belt one road" strategy, the UAE and China will brace for new opportunities. Currently, China is implementing the "supply-side reform" which involves absorbing excess capacity, increasing effective supply and encouraging Chinese enterprises to go global, which will bring huge opportunities for UAE. This visit will strengthen bilateral comprehensive cooperation, especially investment into UAE. Currently, China falls out of the top ten investing countries in UAE with much room to improve. UAE possesses great location, good service environment, sophisticated international law and the financial system, far-reaching influence across surrounding area, all of which make it an important partner for China's "One belt one road" strategy and set to open a new chapter in Sino-Arab Cooperation.

Executive Vice Chairman of APECF Mr. Xiao Wunan (left), Secretary General of the Dubai Economic Commission Hani Rashed Al Hamid (right) exchanged gifts