Tuesday 5, April 2016

Dubai – MENA Herald: A delegation from Dubai Wholesale City (DWC) visited the Embassy of the People’s Republic of China to explore opportunities for future cooperation. The visit articulates DWC’s efforts to enhance awareness for its activities and step-up collaboration with various stakeholders from across the public and private sectors – within and outside the UAE.
His Excellency Zhang Hua, Ambassador of the People’s Republic of China to the UAE welcomed the DWC delegation led by Dr Amina Al Rostamani, Chairman of Tecom Group, and Abdulla Belhoul, CEO of Dubai Wholesale City.
During the visit, Abdulla Belhoul offered an overview of DWC’s vision and mission, as well as its strategic plans for the short- and long-term. Highlighting Dubai Wholesale City’s macro role as a global hub for wholesale trade, he provided key details and features of the newly launched city and outlined its ambition to emerge as a major contributor to the UAE’s economic diversification process.
Speaking on the visit, Dr Amina Al Rostamani said: “We are honored to meet with His Excellency the Chinese Ambassador to discuss a general framework of cooperation between Dubai Wholesale City and the People’s Republic of China. The purpose of ​​establishing an integrated city that serves a broad and important sector such as wholesale is based on our vision at Tecom to develop dedicated cities catering to different economic sectors.
“The launch of Dubai Wholesale City by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is a clear indication of the government’s sustained support to ventures aimed at achieving the UAE post-oil vision for economic diversification.”
Reiterating the important role and status of the UAE in global trade, His Excellency Zhang Hua expressed the happiness of his country in collaborating with DWC that is designed to evolve as a world capital for wholesale trade.
He said: “For so many years now the UAE has maintained its strategic position as the largest market in the Arab world for Chinese products. It is our second largest trading partner in the region. This important visit helps has set the momentum to explore mutually beneficial investment opportunities with Dubai Wholesale City.”
He added: “The long-standing bilateral relations between the UAE and China span more than 30 years. We aspire to cement these relations and develop them further to ensure the sustainable development of both countries. Furthermore, a large number of individuals and companies from the Chinese community are gainfully employed across diverse sectors within Tecom’s group entities and elsewhere in Dubai and the wider UAE. We are confident their number will surge following China’s new synergies with Dubai Wholesale City.”
The meeting included discussions on ways to attract Chinese traders and manufacturers to Dubai Wholesale City. In addition, a delegation from DWC is scheduled to visit China and target Chinese cities that are engaged in sectors of mutual interest such as food, construction materials, electrical appliances, electronics, furniture and decoration, machinery and equipment, as well as wood, vehicles and spare parts and textiles and clothing.
Complementing other key strengths, the strategic location of the UAE has made it a gateway for China to important markets in the wider region. According to a recent study by the Ministry of Economy, the volume of trade in the non-oil sector between the UAE and China exceeded US$46 billion in 2014 – making China the UAE’s second largest trading partner.
Furthermore, the economic ties between the two countries has witnessed a continuous surge with the presence of more than 300,000 Chinese citizens living and working in the UAE. Also, more than 4,000 Chinese companies, 249 Chinese commercial agencies, and over 5,451 Chinese brands are currently registered with the Ministry of Economy.