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  • 28-04-19

    UAE, China trade ties to expand over recent USD3.4b pact

    (MENAFN) A massive agreement recently signed between the UAE and China is expected to strengthen the Emirati economy and boost relations between the two countries.

    China allocated USD3.4 billion of investments into shipping and food initiatives launched in Dubai in line with the Belt and Road initiative.

    UAE lender Abu Dhabi Commercial Bank chief economist Monica Malik suggested that "the deal is very positive and feeds in with Dubai's role as a global logistics and trans-shipment hub."

    According to the chief economist, "for Dubai, further developing links with Beijing is important given China's current and future role in global export growth."

    Malik added "for China, Dubai's location, infrastructure, strong expertise in logistics and transportation will help with its development strategy and goals."

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