The Trends Center for Research and Consultation has released a comprehensive report titled “Advancing China and Enhancing Chinese-Emirati Relations,” shedding light on the burgeoning collaboration between the two nations across multiple sectors, spanning trade, investment, technology, and culture.
Highlighting the UAE’s pivotal role in the land segment of the “Belt and Road” initiative, the report underscores the successful implementation of numerous significant projects. These include the model industrial cooperation park between China and the UAE, the expansion of Khalifa Port’s container terminal, and the development of the Dubai photovoltaic and thermal power plant.
In terms of economic and trade ties, the report reaffirms China’s status as the UAE’s largest trading partner for consecutive years. Bilateral trade between the two countries surged to approximately $95 billion in 2023, with aspirations to elevate this figure to $200 billion by 2030.
Financial collaboration between China and the UAE has also seen significant milestones, including the establishment of the first joint investment fund between China and Middle Eastern nations. Furthermore, groundbreaking agreements related to the integration of the Chinese renminbi as a local currency in the Middle East and the establishment of a digital currency bridge between central banks have been forged.
The report underscores joint endeavors in high technology, notably the establishment of the world’s first artificial intelligence university in Abu Dhabi. Collaboration in the healthcare sector is highlighted, including the successful conduct of the first phase of an international clinical trial for a Covid-19 vaccine.
Cultural cooperation is also emphasized, with initiatives such as the “100 Schools Project” aimed at teaching the Chinese language in the UAE and the imminent launch of the Emirates Chinese Cultural Center.
Overall, the report affirms the robust and multifaceted cooperation between China and the UAE across various domains, paving the way for enhanced bilateral relations and mutual prosperity.
