His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, recently arrived in China’s Guangdong Province for a four-day visit during which the emirate will sign an agreement with China’s most populous province. The visiting delegation from Ras Al Khaimah will also take part in a number of business meetings and cultural activities.
Sheikh Saud will lead the Ras Al Khaimah delegation to sign a cooperation agreement with China’s Guangdong in the province’s capital of Guangzhou, in the presence of the Guangdong governor Wang Weizhong. The agreement will focus on promoting exchange and cooperation in the areas of digital economy, scientific and technological innovation, advanced manufacturing, smart cities, and culture and tourism.
Expanding cultural ties
During the trip, Sheikh Saud will also hold a meeting with the leadership of Sun Yat-sen University, a public research university in Guangzhou, in addition to participating in a Q&A session with students at the university, and visiting cultural areas of the city, including Yong Qing Fang historical area. Sheikh Saud will also lead the Ras Al Khaimah delegation during several business meetings and on a visit to the UAE consulate in Guangzhou.
With a population of over 126 million people, Guangdong has the largest economy of any province in China, with a GDP of $1.9 trillion in 2023. It is a major manufacturing hub, with electronics, automotive, textiles, pharmaceuticals, high-tech industries, finance, and real estate making up some of the key sectors.
Ras Al Khaimah’s economic prospects
In addition to its efforts in bolstering ties with China, Ras Al Khaimah has recently doubled down on its efforts to expand ties with multiple countries including the United States and the United Kingdom. The emirate recently entered into a strategic growth partnership with the U.K. government that seeks to explore avenues for collaboration in trade and industry. This initiative aims to enhance the already strong ties between the two parties by extending their cooperation into additional fields such as education, culture, and heritage.
Ras Al Khaimah also held a meeting with the U.S.-UAE Business Council delegation to explore ways to further strengthen cooperation and strategic partnerships across various economic and trade sectors. The meeting also sought to lay the groundwork for enduring progress and prosperity for Ras Al Khaimah and the U.S.
Ras Al Khaimah’s mega tourism projects, including world-class hotels, luxurious beach resorts, and high-end leisure facilities, create promising opportunities for investors and are a catalyst to attract further investment into the emirate. These projects have played a key role in boosting investor confidence, and Ras Al Khaimah is projected to continue to attract global investments, resulting in growth forecasts of 6.2 percent in 2024 and 5 percent in 2025, according to Fitch Ratings.
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UAE-China economic relations
This year marks the 40th anniversary of establishing diplomatic relations between the UAE and China in 1984. These bilateral relations have evolved and reached a comprehensive strategic partnership, which the UAE announced in July 2018 during the visit of Xi Jinping, President of the People’s Republic of China, to the emirates.
UAE-China relations received a significant boost following the historic state visit by President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Beijing in May 2024. During the visit, both countries signed numerous agreements and cooperation memoranda.
Notably, the UAE is China’s largest non-oil trading partner in the Arab region, while China is the UAE’s number one trading partner, with a trade value of $82 billion in 2023.
The volume of trade exchange between the UAE and China has risen 800-fold since the establishment of diplomatic relations between the two countries. The volume of trade exchange between the two countries is set to reach $200 billion by 2030.
