The UAE and China have recently inked 19 agreements and memoranda of understanding (MoUs) in several key sectors to boost investments in tourism, industry, technology, media and the Belt and Road Initiative, among others.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Xi Jinping, President of the People’s Republic of China, witnessed the signing of the agreements along with government officials from both sides.
Among the most notable investment agreements is an MoU on establishing the China-UAE high-level investment cooperation committee. China and the UAE also inked an agreement for establishing the investment and economic cooperation working group and an agreement for promoting investment cooperation in green development.
Cooperation on Belt and Road Initiative
Another major agreement that China and the UAE signed is the joint formulation of the cooperation plan on the Belt and Road Initiative. The initiative is a mega project the Chinese president launched in 2013, which aims to connect multiple countries in Asia, Europe, and Africa through infrastructure and trade projects. Notably, the Belt and Road Initiative includes 65 nations and makes up around 30 percent of the world’s economy.
In 2023, the UAE’s non-oil trade with China reached a staggering $81 billion, a 4.2 percent increase from 2022. In addition, China remains the country’s top non-oil trade partner in 2023, accounting for 12 percent of its trade.
Collaboration in tourism
The UAE and China also signed an agreement for cooperation in the tourism sector, a cornerstone of their economic ties. In addition, the two countries inked an MoU between the UAE Ministry of Culture and China’s Ministry of Culture and Tourism on cooperation in the cultural sector.
During the first 10 months of 2023, over one million Chinese tourists visited the UAE, with a resident Chinese community of around 350,000.
In addition, during the 8th meeting of the Joint Economic, Trade and Technical Committee in Abu Dhabi in February, both nations emphasized joint tourism initiatives to promote their diverse offerings and attract a wider global audience.
Technology and education
The UAE and China also inked a cooperation agreement in the field of science and technology and another MoU on cooperation in the field of industries and technologies. In addition, the two countries signed an MoU for intellectual property cooperation, an MoU for higher education, and an MoU for joint Chinese language education.
Read | UAE’s GDP reaches $457.38 billion in 2023, 3.6 percent growth from previous year: Minister
Other notable agreements
- MoU on cooperation between the UAE Media Council and the National Radio and Television Administration of China
- MoU between the UAE National Media Office and the China Media Group
- China-UAE intergovernmental cooperation agreement on the peaceful uses of nuclear energy
- MoU on the recognition of seafarers’ certificates of competence
- MoU between the UAE Ministry of Tolerance and Coexistence and the National Ethnic Affairs Commission in China
- MoU on health cooperation
- MoU on statistical cooperation between the Federal Competitiveness and Statistics Center of the UAE and the National Bureau of Statistics of China.
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