São Paulo – The United Arab Emirates expect their volume of non-oil trade with China reaches US$70 billion by 2020. In 2017, this trade volume exceeded the USD 53 billion mark. This information was released this Wednesday (3) by the organization of the Annual Investment Meeting (AIM), conference on foreign direct investments (FDI) occurring from April 8 to 10 in Dubai, an initiative by UAE Ministry of Economy. In the picture above, a 2018 event panel.
China will participate in the forum, whose theme will be: “Mapping the Future of FDI: Enriching World Economies through Digital Globalisation.” According to AIM press release, Chinese direct investments in UAE reached USD 2.8 billion in 2016, a 33% increase over the previous year. For comparison purposes, the Asian country invested USD 857 million in Brazil in 2016, according to Brazilian Central Bank.
In 2016, Chinese investments in the UAE went to sectors such as wholesale and retail trade, financial and insurance services, real estate, construction, transportation, storage, and others, according to the AIM press release.
“The UAE continues to improve its investment climate by introducing new legislation and policies suitable for business,” said under-secretary of the Ministry of Economy for Foreign Trade Abdullah Al Saleh, according to the release. “This is to attract more foreign direct investment inflows, especially from China, which is seeking to expand its business and investment in the regional markets,” he added.
According to the release, 50% of Chinese products arriving in the UAE are re-exported to GCC, Africa and Europe. More than 4,200 Chinese companies are based in the Arab nation.
Quick Facts
Annual Investment Meeting
8 to 10 April 2019
April 8, from 8 am to 5 pm; 9-10 April, from 10 am to 5 pm
Dubai World Trade Centre, Dubai, United Arab Emirates
For more information and registration, access the conference website
Translated by Guilherme Miranda
