UAE Minister Of Economy Discusses Enhanced Economic Cooperation With Guangxi Governor

Abdullah bin Touq Al Marri, the UAE's Minister of Economy, recently engaged in discussions with Lan Tianli, Governor of Guangxi Zhuang Autonomous Region. Their meeting aimed to explore avenues for boosting economic collaboration between the UAE and China in sectors of shared interest. Bin Touq highlighted the UAE-China economic ties as a model for strategic partnerships rooted in diversity and innovation.

The Minister stressed the UAE's dedication to enhancing cooperation with Guangxi in crucial areas like the new economy, entrepreneurship, air transport, advanced industries, renewable energy, e-commerce, logistics services, and tourism. He underscored the importance of seeking new investment opportunities that contribute to sustainable development for both nations.

The UAE is a strategic gateway to Middle Eastern and African markets due to its role as a global hub for re-export and advanced logistics. This position empowers partners like Guangxi Zhuang to access new markets and facilitate exports and overseas investments. The meeting also explored strengthening public-private partnerships in digital trade, smart manufacturing, advanced technologies, and infrastructure investment.

Both parties discussed expanding cooperation in food security, sustainable agriculture, free zones, tourism, air transport, and smart cities. The Chinese side welcomed the idea of broadening economic cooperation with the UAE. They expressed interest in developing new mechanisms for knowledge exchange in technology, logistics services, and port services.

China is the UAE’s leading global trading partner, significantly contributing to its non-oil trade. Currently, over 15,000 Chinese companies operate across various sectors within the UAE. This reflects growing confidence among Chinese businesses in the UAE's business environment. In 2024 alone, bilateral trade between the UAE and Guangxi reached US$969 million.

The growth was driven by increased cooperation between free zones on both sides. Tourism plays a vital role in UAE-China economic relations. In 2024, over one million Chinese tourists visited the UAE. Additionally, around 350,000 Chinese residents live there now.

Enhancing Knowledge Exchange

More than 250 flights operate monthly between China and the UAE. Both sides emphasised continuing delegation exchanges and participation in economic exhibitions as key to enhancing business partnerships. These platforms are crucial for identifying new investment opportunities.

The rapidly evolving business communities in both countries have seen significant advancements recently. This adds importance to joint efforts aimed at fostering stronger ties through these exchanges.

The discussions also highlighted how both nations are influential economic hubs globally within international trade landscapes. They noted that abundant opportunities exist due to this status which further enhances their collaborative potential moving forward.

With inputs from WAM