Release date: 15th March 2009

The Dubai Export Development Corporation (EDC) met with the delegation from the China Investment Promotion Agency (CIPA) to explore export opportunities between the UAE and China.

 The focus of the meeting, headed by Hong Jiyuan, Director of the Investment Promotion Bureau of Chaoyang District, Beijing, China and Farid Karmostaji, Director of Export Market Development, EDC, was the development and promotion of bilateral trade opportunities between the two countries. Discussions were centred on the organisation of joint promotional trade activities and the sharing of information that can be positively used to grow the economies of China and the UAE.

“EDC is working to expand trade opportunities with international markets such as China, which presents significant export opportunities for Dubai-based businesses. The direct trade between China and Dubai has posted a 45 per cent increase in 2007, a total value of AED42 billion, as compared in 2006. Meanwhile, in the same year, Dubai exports – consisted of papers, metals and wood pulps – to China were worth AED414.3 million, an 86 per cent increase from the previous year,” said Karmostaji.

“In 2008, while most countries worldwide have experienced a decrease in exports due to the current financial crisis, Dubai exports were valued at AED42.6 billion, an increase of 57.5 per cent as compared to 2007,” he added.

Additionally, Karmostaji explained that the financial crisis has various effects in the companies in Dubai and the UAE. Among of which were the decrease in demands to some finished products from the manufacturing and other export-related industries while the price of raw materials has also gone down which was a positive point for the manufacturers.

“The current crisis will have limited effects in Dubai, because the manufacturers are mostly exporting within the GCC and the Middle East region. Also, Dubai is attracting various international investors due to its advanced infrastructures and services,” Kasmotarji furthered.

The Chinese delegation was also presented with EDC’s various facilities and services it offers to exporters and manufacturers. The discussions with China are part of a broader campaign by EDC to develop and enhance trade relationships with countries across the world.

CIPA is looking forward to have beneficial co-operation with Dubai investors through EDC. CIPA has been visiting various countries in the GCC and the region to develop the trade relations for China.