Projected 0bn in UAE-China trade by 2030

Trade between UAE and China Set to Reach 0 Billion by 2030

The trade exchange between the United Arab Emirates (UAE) and China is on a rapid growth trajectory, with expectations reaching 0 billion by the year 2030. This forecasted surge in trade is set to be fueled by emerging regional trade blocs such as BRICS+, as the landscape of global trade moves away from traditional globalization trends towards partnerships that are centered on the concept of friendshoring. These insights were revealed in the Future of Trade report by the Dubai Multi Commodities Centre (DMCC), as reported by the Emirates News Agency (WAM).

According to the latest data from DMCC, there was a notable 9% annual increase in Chinese company memberships in the first half of 2024, contributing to a total of 900 Chinese companies operating within the free zone. This growth in Chinese business presence in the UAE signifies the attractiveness of the country as a strategic hub for Chinese companies looking to expand their international operations.

The Future of Trade report, presented during DMCC’s second Shanghai and Shenzhen roadshow, highlighted significant avenues for collaboration between UAE and China, particularly in the fields of technology and environmentally sound technologies (ESTs). The report was shared with over 550 business leaders, emphasizing the advantages for Chinese businesses to establish their footprint in Dubai’s thriving business ecosystem.

Speaking on the promising prospects for bilateral trade relations, Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, expressed optimism about the future growth potential. He stated, “We expect to see these numbers grow in the coming years as the UAE and China deepen their commercial networks and leverage the enormous opportunities on offer in high-growth areas like technology, services, and sustainability.”

Muhannad Sulaiman Al Naqbi, Consul-General of the UAE in Shanghai, emphasized the importance of platforms like DMCC’s roadshow in fostering stronger ties and unlocking new avenues for collaboration and prosperity. He stated, “As we work towards fostering stronger ties and doubling bilateral trade, initiatives like DMCC’s roadshow will play a pivotal role in unlocking new avenues for collaboration and prosperity.”

Mariam Alshamsi, Consul-General of the UAE in Guangzhou, underscored the historical success and potential for further collaboration between UAE and China. She highlighted the significance of events like DMCC’s roadshow in strengthening economic and trade ties between the two nations. Alshamsi commented, “Founded in a rich history of collaboration and success, the opportunities for the UAE and China to work together more closely could not be more apparent. It is through key events such as DMCC’s roadshow today that we deepen our economic and trade ties.”

The UAE’s advanced trade infrastructure, favorable economic policies, and DMCC’s specialized business ecosystems have played a crucial role in attracting Chinese businesses to the region. With approximately 15% of the 6,000 Chinese companies operating in the UAE choosing to establish their presence within the DMCC’s district, the UAE continues to solidify its position as a favored destination for international businesses seeking growth opportunities.

Looking ahead, the collaborative efforts between UAE and China are set to unlock new avenues for mutual growth and prosperity. As the trade landscape evolves and partnerships strengthen, the potential for increased trade exchange and deeper economic cooperation between the two countries is poised to create a prosperous future for both nations.