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Roundup: Business world in Dubai looks forward to upcoming theme show in China

Xinhua, October 24, 2016 Adjust font size:

Business executives in Dubai say the upcoming second Dubai Week in China will further promote the already booming business and trade relations between the Gulf Arab sheikdom and China.

"Dubai's trade relationship with China has gone from strength to strength in recent years," said Hamad Buamim, president of Dubai Chamber of Commerce and Industry (Dubai Chamber), a partner of the event, in an emailed interview with Xinhua.

The second Dubai Week in China will be held from Oct. 27 through Oct. 29 in China's economic hub Shanghai, an event that will see a delegation of 60 to 80 dignitaries, decision makers and professionals from various Dubai entities. The first Dubai Week was held in China's capital Beijing in May 2015.

"Non-oil trade between Dubai and China amounted to 47.9 billion U.S. dollars in 2015, surging 102 percent from 23.7 billion dollars in 2010," said Buamim.

Dubai Chamber recently set up a branch in Shanghai after a careful study of the Chinese market.

"Through our office in Shanghai, we can more effectively promote Dubai as an international business hub and strengthen economic ties with China," he said.

Meanwhile, Dubai Chamber has been running a partnership with China's business-to-business ecommerce platform Alibaba Group in Hangzhou, the capital of Zhejiang Province south of Shanghai, since May 2012.

Ibrahim Al-Janahi, chief commercial officer of Jebel Ali Free Zone (Jafza), Dubai's second industrial free zone, said Jafza has enjoyed "extremely warm business ties" with China and "looks forward to augmenting them" through the event.

The free zone has over 230 Chinese state and private companies, he added.

In late September, China established a direct trading pair between Renminbi, or Chinese yuan, with the United Arab Emirates' (UAE) legal currency dirham. Endit