Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE envoy sees 30 per cent jump in China trade  Join our daily free Newsletter

MENAFN - Khaleej Times - 07/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The proposed ?21st century maritime silk road? will open up greater business opportunities for all the countries involved in it.

the uae expects a 30 per cent jump in bilateral business with china in the next two years according to uae ambassador in beijing omar al bitar.

“we expect the bilateral trade to go up from 46 billion in 2013 to 60 billion by 2015” al bitar told khaleej times on the sidelines of the china-arab states cooperation forum (cascf) held in beijing on thursday.

he was also upbeat about the chinese proposal to revive the ancient maritime silk road which will also involve arab countries including the uae. the proposed “21st century maritime silk road” will open up greater business opportunities for all the countries involved in it he said.

“multinational cooperation has a positive effect on all countries. it adds to world economy. development and growth replaces troubles brings welfare to the people everywhere” he said.

al bitar said that the uae is eager and ready to absorb enhanced chinese investments because its special geographical location and strong financial centre. “uae is the first destination for chinese goods in the arab world. it is china’s second trade partner from the chinese perspective” he said.

in his keynote address to the cascf chinese president xi jinping stressed the huge opportunities that could be tapped in the field of chi-arab nations partnership. “what china pursues is common development. we want to achieve development for ourselves and we want to enable others to grow as well” he said.

china was keen to put more money into projects in arab countries which attracted just 2.2 billion worth of chinese investments last year. plans also include a drastic 50 billion increase in china’s non-financial investment stock in arab states from 10 billion last year to over 60 billion in the coming decade he said.

“where there is a gap there are potential and opportunities” xi said. chinese companies want to enhance investments in such fields as energy petrochemicals agriculture manufacturing and services of arab states.

in the next five years china will import over 10 trillion in goods and make more than 500 billion in direct investment abroad. this opens up huge opportunities for arab countries to attract chinese investments xi said.

china’s imports from arab countries amounted to 140 billion in 2013 which was only about seven per cent of the 2 trillion worth of goods china imported from across the globe he said while emphasising the vast opportunities that remain to be tapped.

“china will encourage chinese companies to import more non-petroleum products from arab states to improve trade mix and raise the two-way trade volume from 240 billion last year to 600 billion in the coming decade” xi said.

news?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Oct 1 2016 - Saudi economic growth hits slowest rate in Q2MENAFN
(MENAFN) Government data showed that Saudi Arabia's economy grew at its slowest rate in more than three years between April and June.Also, growth has been weakening since early 2015 as cheap oil ...

 Oct 1 2016 - New regional deadline in Gulf States by 2021MENAFN
(MENAFN) UAE's Minister of Infrastructure confirmed that the six Gulf countries have agreed in principle to push back the completion date of a 2,100 kilometer transnational rail network stretching ...

 Oct 1 2016 - GCC mobile transactions higher by 4% in H1 of 2016MENAFN
(MENAFN) A new study showed that the shares of mobile transactions in the GCC at 43% in higher than the global average by 4%.Also the report has provided insights into consumer shopping habits and ...

 Oct 1 2016 - UAE- Mercedes' rivals contest F1 ChampionshipKhaleej Times
(MENAFN - Khaleej Times) The Petronas Malaysia Grand Prix takes place at the Sepang Circuit, Kuala Lumpur, on October 2. Responsive interactive graphic shows animated circuit map, with details ...

 Oct 1 2016 - UAE- Wrightbus International signs partnership with Al Habtoor MotorsKhaleej Times
(MENAFN - Khaleej Times) Al Habtoor Motors will become the official distributor for Wrightbus International's products in the United Arab Emirates. Wrightbus International has signed a strategic ...

 Oct 1 2016 - UAE- Free parking in Sharjah for Hijri New Year holidayKhaleej Times
(MENAFN - Khaleej Times) Sharjah Municipality has announced free pre-paid parking across the emirate on the occasion of the Hijri New Year holiday, which falls on Sunday. Attif Al Zarooni, ...

 Oct 1 2016 - UAE- Sharjah International Narrator Forum closes with great successKhaleej Times
(MENAFN - Khaleej Times) The three-day event of the 16th edition of the Sharjah International Narrators Forum (SINF), organised by Sharjah Institute for Heritage (SIH), has concluded with the ...

 Oct 1 2016 - UAE- PHOTOS: Fire guts Sharjah apartmentKhaleej Times
(MENAFN - Khaleej Times) Afire gutted an apartmentin a building at Al Wanda Streeton Thursdaynight. According to Lt. Col Sami Al Naqbi, the fire started at11 pmin apartment no 802 of Al Tawoon ...

 Oct 1 2016 - UAE- New Zealand bowlers put India on backfootKhaleej Times
(MENAFN - Khaleej Times) Former captain Ross Taylor leads the side at Eden Gardens instead. New Zealand bowlers put India on the backfoot despite fighting half-centuries from Cheteshwar ...

 Oct 1 2016 - UAE- KT Poll: Pakistan's Yasir Shah, not Ashwin, is world's best spinnerKhaleej Times
(MENAFN - Khaleej Times) Yasir Shah got 68 percent of the votes Yes, we now have got the complete result. And we are delighted to announce that Khaleej Times readers have picked Pakistan's Yasir ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help