The Dubai Economic Council (DEC) organized the Economic Dialogue Session with Linyi City of China, followed by the MOU signing ceremony. The event taken place at the InterContinental Dubai Festival City, "ALRAS 2" ballroom.
The event was chaired by H.E. Juma Al Majed, DEC Chairman and H.E. Hani Al Hamli, DEC Secretary General, and attended by the DEC members, representatives of business community in Dubai and the UAE from the public and private sectors, and the local media.
The Chinese delegation led by Mr. Zhang Shaojun, Chairman of The Standing Committee of Linyi Municipal People’s Congress, includes a number of senior officials from the city. Mr. Tang Weibin, Consul General of the People’s Republic of China in Dubai has also attended the gathering. In addition to representatives of Chinese companies from Linyi City.
In the inception of the event, a video clip on the economy and lifestyle of Linyi city has been shown.
Juma Al Majed: “UAE-China economic ties are ‘strategic” and “sustainable”
In his honorarium speech, H.E. Juma Al Majed pointed out that the economic ties between Dubai/ UAE and China witnessed dramatic growth over the last few years. “These enhanced ties reflect the willingness and determination of the leaders of the two countries to cooperate more for the aim of improving the economic growth, and welfare of their citizens.
Mr. Al Majed also expressed his admire for the mega development projects that Linyi city witnessed in various sectors.
Zhang Shaojun; “Dubai is an important trade partner for Linyi city”
Representing the Linyi city’s delegation, Mr. Zhang Shaojun, Chairman of The Standing Committee of Linyi Municipal People’s Congress stated in his speech that the trade volume of Linyi city last year was 177 billion Yuan, and that Dubai is perceived as in important market for the city. He also said that there is a number of city’s companies operating in Dubai.
Mr. Shaojun clarified that the Government of China pays a great deal attention in boosting the economic and trade relations with Dubai/UAE. He also praised the economic policies and regulations adopted by the UAE Government in doing business and attracting the FDI including the Chinese businesses.
At the end of his speech, Mr. Shaojun calls for the UAE businessmen and investors to visit Linyi city and find out the opportunities for investment hence enhanced cooperation with their counterpart Chinese businessmen in the city.
Hani Al Hamli: “We look forward to unify our visions towards enhanced trading ties with Linyi city”
In his welcome address, H.E. Hani Al Hamli stated that many international and local reports unveiled that Dubai becomes one of the fastest growing economy in MENA and the world economy. “Despite the slowdown in 2009 following the global financial crisis, Dubai’s economy has continued to steadily grow over the last three years. The GDP growth exceeded 4% in 2012, and it is expected to reach the threshold of 5% this year”. The Secretary-general added.
Mr. Al Hamli said that the insight and strategic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai while far reaching and ambitious is also realistic in ensuring that the end goals are achievable. It is through his vision and determination; Dubai has been transformed into a thriving metropolis in record time and consolidated its position among prominent nations.
The DEC Secretary-general pointed out that the Government of Dubai has employed this momentum to launch a flow of initiatives importantly the avocation of Islamic economy as a new sector of Dubai’s economy and announcement of Dubai as a World Capital of Islamic Economy. Also the Government recently launched the Dubai’s Vision for Tourism 2020 by which the city will welcome 20 million visitors per year, in addition to the large number of mega development projects that recently announced.
On the other hand, Mr. Al Hamli stated that in line with the UAE leadership’s vision to robust the economic ties between Dubai/ UAE and the People’s Republic of China, and to turn these ties from merely “cooperation” to “real partnership”, the DEC has sought to lay down partnerships with a number of Chinese institutions including China Development Bank, China Economic and Social Council, China Council for the Promotion of International Trade, among others, in a bid to translate the stated vision into reality. He also stressed that these partnerships imply not only exchanging data and information but sharing knowledge, expertise, as well as insights on how can we improve the welfare of our citizens.
In this context, Mr. Al Hamli demonstrated the recent development in the economic relations between Dubai and UAE with China. In figures, he pointed that trade between China and UAE grew to $36.6 billion in 2011, and it is expected to hit $60 billion in 2015.
In Dubai level, China is the most prominent partner in trade for the emirate. The trade between Dubai and China grew by 19 per cent to 8.6 billion dollar (Dh31 billion) during the first quarter of 2013 compared to 7.2 billion dollar (Dh26 billion) in the same period last year. In terms of imports during 2012, China was Dubai's top partner. Imports from China accounted for 31 billion dollar (Dh111 billion) with a share of 15 per cent of Dubai's total imports. Emirates' trade volume from China during last year grew by 13 per cent to 32 billion dollar (Dh115 billion), as compared to 2011. Accordingly, it is supposed that Dubai would act as a gateway for Chinese companies to the GCC and Africa.
As of the first half of 2013, the number of Chinese guests staying in Dubai’s hotels and hotel apartments reached nearly 150,000, up 15.7 per cent from a year ago. Precisely, according to the latest local report, China emerged as the 9th top source market for inward visitor traffic into Dubai in the first six months of the year. As a result, these growing business activities are fuelling the closer ties between UAE and China, which is in turn driving Chinese residents to the country.
On the light of above, Al Hamli stated that the DEC has recently arranged with the officials concerned in Linyi city to conduct an economic dialogue and signing an MOU to establish a framework for a strategic partnership between the Council and Linyi City in order to unify the visions on how to support the economic and trade relations between Dubai / UAE with the booming city of Linyi.
The agreement also entails coordination and cooperation between the two parties in many areas of common interest, such as joint research projects aimed at enhancing decision-making in order to support the process of economic growth, in addition to the exchange of knowledge, experiences and data.
At the end of his speech, Mr. Al Hamli expressed his confidence that the agreement would contribute significantly in paving concrete steps toward sustainable relations between Dubai and Linyi City.
Mr. Tang Weibin: “Dubai is a hub for Chinese investors and tourists”
Mr. Tang Weibin, Consul General of the People’s Republic of China in Dubai stated in his speech that the timing of today’s visit of Linyi city delegation to the DEC and Dubai is coincident with the anniversary of China National Day. “The visit would constitute a new stage of trading relations between Dubai and Linyi city” Mr. Weibin said.
Mr. Weibin highlighted the latest development in the Chinese businesses in Dubai and the UAE. He said that the number of Chinese companies operating in the UAE is about 4200, in addition to four airlines. He also mentioned that four big Chinese banks have recently opened regional branches in Dubai.
Economic dialogue between the business community of Dubai and Linyi city
The press release cited selections of dialogues made between the representatives of business community of Dubai and Linyi city. The discussions focused on the present and future relations between the two cities.
Mrs. Raja Al Gurg raised a question about the role of women in Chines economy. Mr. Tarek Baker asked about the regulatory framework in different districts in China and the harmony across them.
Mr. Hisham Al Shirawi suggested Chines companies to participate in the fairs and exhibitions held in Dubai over the year in order to exhibit their products and strengthen their market share in Dubai.
On the other hand, Mr. Khamis Buamim queried about the future cooperation between Dubai and Linyi city in maritime and offshore infrastructure and energy.
In this context, Mr. Shaojun stated that both the central and local government in China already enacted a number of laws and regulations over the last years in order to facilitate and attract FDI to the city of Linyi and to the whole country. “Among these regulations: land access, duties cut, professional training provision, etc. Additionally, the Standing Committee of Linyi Municipal People’s Congress affirmed that a representative office of the City would be established soon in Dubai to cater all kinds of cooperation between the two cities” he said.
MOU signing ceremonies
Following the dialogue, an MOU signing ceremony between the DEC and Linyi city has been conducted in the presence of H.E. Juma Al Majed. H.E. Hani Al Hamli has signed the MOU on behalf of the DEC; and Mr. Shaojun signed the MOU on behalf of the Government of Linyi city.
The MOU stipulates a number of clauses about the areas of collaboration between the two parties.
Then, an announcement of nominating Mr. Suleiman to act as a representative of the trade Office of the Government of Linyi city in the Middle East, taking Dubai as a headquarter of it.
At the end, H.E. Juma Al Majed presented a copy of “My Vision” book-authored by H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai- to his guest Mr. Shaojun. In return, Mr. Shaojun gave a Chinese trophy to H.E. Juma Al Majed.