The UAE and China have signed 19 agreements in key sectors to boost investment and cooperation

The UAE and China recently signed 19 agreements and memorandums of understanding in several key sectors to boost investment in tourism, industry, technology, media and the Belt and Road Initiative, among others.

President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Xi Jinping, President of the People’s Republic of China, witnessed the signing of the agreements together with government officials from both sides.

The most significant investment agreements include the Memorandum of Understanding on the establishment of a high-level committee on China-UAE investment cooperation. China and the United Arab Emirates also signed an agreement to establish a working group on investment and economic cooperation and an agreement to promote investment cooperation in green development.

Cooperation within the Belt and Road Initiative

Another important agreement signed by China and the United Arab Emirates is the joint formulation of a cooperation plan under the Belt and Road Initiative. The initiative is a megaproject launched by the Chinese president in 2013 that aims to connect many countries in Asia, Europe and Africa through infrastructure and trade projects. It is worth noting that the Belt and Road Initiative covers 65 countries and accounts for about 30 percent of the global economy.

In 2023, the UAE’s non-oil trade with China reached a staggering $81 billion, an increase of 4.2% compared to 2022. Moreover, China remains the country’s top non-oil trading partner in 2023, accounting for 12% of their trade.

Cooperation in tourism

The UAE and China also signed a cooperation agreement in the tourism sector, which is the cornerstone of their economic ties. Additionally, the two countries signed a Memorandum of Understanding between the UAE Ministry of Culture and China’s Ministry of Culture and Tourism on cooperation in the cultural sector.

Over one million Chinese tourists visited the UAE in the first 10 months of 2023, and the Chinese community has a population of approximately 350,000.

Moreover, during the 8th meeting of the Joint Economic, Trade and Technical Committee in Abu Dhabi in February, the two countries highlighted joint tourism initiatives aimed at promoting their diverse offerings and attracting a wider global audience.

Technology and education

The UAE and China also signed an agreement on cooperation in science and technology and another memorandum of understanding on cooperation in the field of industry and technology. In addition, the two countries signed a Memorandum of Understanding on Cooperation in Intellectual Property, a Memorandum of Understanding on Higher Education and a Memorandum of Understanding on Joint Chinese Language Education.

Read | The UAE’s GDP will reach $457.38 billion in 2023, an increase of 3.6 percent compared to the previous year: Minister

Other notable deals

• Memorandum of Understanding on Cooperation between the United Arab Emirates Media Council and the National Broadcasting Administration of China
• Memorandum of Understanding between the UAE National Media Office and China Media Group
• China-UAE Intergovernmental Cooperation Agreement on the Peaceful Uses of Nuclear Energy
• Memorandum of Understanding on the recognition of seafarers’ certificates of competence
• Memorandum of Understanding between the UAE Ministry of Tolerance and Coexistence and the National Ethnic Affairs Commission of China
• Memorandum of Understanding on cooperation in the field of health
• Memorandum of Understanding on Statistical Cooperation between the United Arab Emirates Federal Center for Competitiveness and Statistics and the National Bureau of Statistics of China.

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