His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, said that during the year 2020, the volume of bilateral trade between the UAE and China witnessed some obstacles due to the current exceptional situation, but the deep ties that unite the two countries, common aspirations and great similarity in their ability To adapt to conditions by relying on innovation, matters represent important pillars of the partnership towards growth in the new world of the digital economy, to which we are moving, considering that his “digital trade fair” will cause the discovery of many new opportunities for trade and cultural exchange between the two friendly countries.
His Highness made the remarks on the occasion of the announcement yesterday of the "Digital Trade Show", the first digital trade and economic exhibition between the People's Republic of China and the Emirates, and organized by "Dubai Holding", during the period from 15 to 21 July.
In detail, the UAE Ministry of Economy, in cooperation with the Chinese Council for the Promotion of International Trade, is hosting the first digital trade and economic exhibition between the People's Republic of China and the United Arab Emirates, a platform designed to give a strong new impetus to trade and joint economic activities between the two countries, within the framework of The compatibility of visions and aspirations towards laying new foundations for economic ties, in order to benefit from the success opportunities presented by the digital age and its technologies.
Hala China, an initiative led by Dubai Holding, is organizing the week-long event, from July 15 to 21, in cooperation with the China International Exhibition Center Group Company. The exhibition will witness the interaction of leading companies from the UAE and China via the Internet, to explore new economic cooperation opportunities for institutions and companies, through a series of discussions with leaders of different sectors.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Board of Directors of “Dubai Holding” said: “In 2020, the volume of bilateral trade between the UAE and China witnessed some obstacles due to the current exceptional situation, which affected all its sectors around the world, especially the economic ones. But the deep ties that bring the two countries together, their shared aspirations, and the great similarity in their ability to adapt to conditions by relying on innovation, are important pillars of the partnership towards growth in the new world of digital economy, which we are moving to.
His Highness added: “(The Digital Trade Show) is a perfect example of this, and the event will cause many new opportunities for trade and even cultural exchange between the two friendly countries to be discovered, as we enter the world and the stage of economic recovery.”
According to figures from the Ministry of Economy, forecasts indicated that bilateral trade between China and the UAE would grow rapidly, prior to the outbreak of the Corona Virus (Covid-19) crisis, which had left its shadow over the entire world economy.
Official figures showed that trade between the two countries exceeded 184 billion dirhams (50 billion US dollars) in 2019, an increase of 16% over 2018, with Emirati non-oil exports to China growing by 64% in the same period. The two countries have set their sights on developing bilateral trade by about 100 billion dollars, before the global economic shock caused by "Covid-19".
In turn, Sheikh Majid bin Abdullah Al Mualla, Chairman of the “Hala in China” Board of Directors said: “This month, Hala in China celebrates the passage of two years since its launch, and during this period we have made great efforts to enhance our bilateral relations through various activities and exchange programs and activities. Cultural and provide opportunities and open the way for companies and businesses in the Emirates and China, for more cooperation towards achieving new joint successes. As the countries of the world seek to accelerate the pace of recovery and move to a new lifestyle, our relations with China will provide promising and strategic opportunities for growth and mutual cooperation in a post-Covid-19 world. ” He added, "The UAE is the most important trading partner of China in the Arab world, as the UAE contributes 26% of the total volume of China's non-oil foreign trade with the Arab countries. With this event taking place, we express once again our commitment to consolidating the relations between the two friendly countries. ”
One of the main advantages available to exhibitors at the Digital Trade Show is the 3D lighting technology, which allows them to display their products on a digital platform in front of the public, which will enable them to rotate the displayed product using any smart device, to show the size of the product and its dimensions.
Other activities of the exhibition include: a session to review Emirati educational institutions, during the live and direct broadcast, with the title: “Study in the UAE”, a campaign launched by the Ministry of Education in 2019. Education is a key pillar, within the national agenda for Vision 2021, and the UAE Centennial Strategy 2071.
• Trade between the UAE and China exceeded 184 billion dirhams in 2019.