In recent years, the relationship between China and the Middle East has been heating up significantlyThe Middle East, embarking on a transformation from traditional fossil fuels to new energy sources, presents a myriad of investment opportunitiesAt the same time, Chinese companies are increasingly seeking international expansion, with the Middle East emerging as a vital destination for their growth strategies.
On February 19, a significant business event titled “Abu Dhabi Enterprises Meet Shanghai Merchants” was held at the luxurious Peninsula Hotel in Shanghai, organized in partnership by the Shanghai Federation of Industry and Commerce and the Abu Dhabi Chamber of CommerceThe signing of a strategic cooperation agreement between these two organizations laid the groundwork for a long-term collaboration mechanism, aimed at promoting resource sharing and aligning various projects.
Abu Dhabi, as the capital and economic hub of the United Arab Emirates (UAE), boasts a unique geographic advantage, an abundance of oil and gas resources, and a rich cultural heritageIt has become known as the “Pearl of the Gulf,” capturing the interest of global enterprisesMeanwhile, Shanghai stands as China’s economic powerhouse and a forefront of reform and opening up policies; it is rapidly evolving into a cosmopolitan city deeply connected to the world, a dazzling “Oriental Pearl.” The convergence of the “Pearl of the Gulf” and the “Oriental Pearl” signals the dawn of a new chapter in cooperative endeavors.
Several dignitaries attended the event, including Ahmed Jasim Al Zaabi, President of the Abu Dhabi Chamber of Commerce, and Shou Ziqi, Vice Chairperson of the Shanghai CPPCC and President of the Shanghai Federation of Industry and CommerceTheir speeches highlighted the commitment of both sides to deepen economic tiesOver a hundred representatives from enterprises engaged in fruitful discussions, with the event being moderated by Wang Xiaohan, the Executive Vice Chairman of the Shanghai Federation.
Al Zaabi emphasized that Abu Dhabi is on a path to transform into a global business hub
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By the third quarter of 2024, the contribution of non-oil GDP to the economy of Abu Dhabi is expected to surpass 54%, indicating a robust growth trajectory and diversification of the economyThe partnership between the UAE and China is viewed as a foundational pillar in this transformative journey.
Concrete evidence of this partnership is reflected in the surging investments from the UAE to China, which skyrocketed by 120% by the end of 2023, accounting for 90% of the total investments from Arab states in ChinaWith over 6,000 Chinese enterprises operating within the UAE, including a 38% increase in registered Chinese businesses in the Abu Dhabi Chamber in 2023, this figure is projected to leap to 69.4% in 2024. Abu Dhabi stands as a beacon of opportunity worldwide, hosting a sovereign wealth fund with a management scale of approximately $1.7 trillion, and has consistently ranked as one of the safest cities globally for nine consecutive yearsThe Chamber's “2025-2027 Development Roadmap” focuses on fostering innovation, attracting investments, and promoting sustainable growth.
In his address, Al Zaabi expressed a strong desire for both parties to invest in talents and enterprises collaboratively, striving to co-author a prosperous futureThe “Abu Dhabi Enterprises Meet Shanghai Merchants” forum aims to deepen practical cooperation between Shanghai and Abu Dhabi, establishing a multi-layered platform that encourages enterprise exchanges and project alignments.
Shou Ziqi also highlighted in her remarks that over the past 40 years since the establishment of diplomatic relations between China and the UAE, economic cooperation has consistently deepenedShe underscored the solid groundwork for cooperation between Shanghai and Abu Dhabi across various sectors including port construction, intelligent management, and green development, emphasizing the significant potential for complementary advantages between both parties.
A notable feature of this event was the participation of numerous representative Chinese companies that introduced their projects
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