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RIYADH: Dubai-based Emirati companies invested $1.4 billion in China between 2015 and 2023, reflecting a strengthening trade and economic relationship, according to a senior official.
Speaking at the Dubai Business Forum – China in Beijing, Mohammad Lootah, president and CEO of Dubai Chambers, highlighted the UAE’s commitment to supporting Chinese companies expanding into the Middle East and beyond.
Lootah noted that the UAE and China are collaborating across various sectors, including technology, entrepreneurship, tourism, as well as renewable energy, agriculture, and logistics, as reported by state news agency WAM.
The UAE-China trade relationship remains robust, with Chinese exports to the UAE totaling $55.68 billion, according to the UN Comtrade Database.
“We are committed to supporting the growth of Chinese companies seeking to launch in Dubai and expand into regional and global markets. I am confident that the Dubai Business Forum – China will contribute to further enhancing the levels of trade and investments between Dubai and China, which are continuing to achieve remarkable growth,” said Lootah during the opening speech of the event.
Lootah also revealed that Chinese foreign direct investments in Dubai have reached $5.4 billion over the past eight years. However, a detailed year-by-year breakdown was not provided.
The number of Chinese companies registered with the Dubai Chamber of Commerce has risen to 5,400 by the end of the second quarter of this year.
“While Chinese companies have traditionally focused on sectors like trade, logistics, and business consulting in Dubai, there is now a noticeable increase in their interest in emerging sectors such as artificial intelligence, and green technologies. These future-oriented sectors are expected to witness significant growth in Dubai,” said Lootah.
During the event, Dubai Chambers signed an agreement with the China Council for the Promotion of International Trade to encourage increased investment in Dubai.
The business forum which was organized by Dubai Chambers of Commerce attracted 800 prominent Chinese business leaders and investors.
The event also saw Dubai Chambers organizing a series of bilateral meetings between members of the delegation from the Emirate, which included government entities and private sector companies, and Chinese investors and business leaders.