UAE-China Summit Marks 40 Years Of Diplomatic Relations With Focus On Trade And Investment

Abu Dhabi Global Market (ADGM) recently wrapped up a series of high-level engagements in China. They also participated in the Shanghai Investment Summit, organised by the Abu Dhabi Investment Office (ADIO), which saw attendance from 200 industry and financial executives from China and Hong Kong.

The roadshow covered both Shanghai and Hong Kong. During this event, they announced a new trade forum – ‘The UAE-China Summit presented by HSBC’. This summit will be part of the upcoming Abu Dhabi Finance Week (ADFW) in December. The UAE-China Summit aims to celebrate 40 years of diplomatic relations between the UAE and China, focusing on exploring bilateral trade and investment opportunities and promoting cultural exchange.

The roadshows were initially planned for three days but extended to five due to high demand for bilateral meetings. These meetings aimed to showcase Abu Dhabi’s economic opportunities and ADGM’s value proposition as a rapidly growing international financial centre. Over 75 major financial institutions from Hong Kong and China engaged in strategic discussions with ADGM’s leadership, including representatives from the Financial Services Regulatory Authority (FSRA) of ADGM.

Discussions included cross-border regulatory cooperation with the Hong Kong Monetary Authority, expansion plans for various firms in Abu Dhabi, and strategies to enhance liquidity in each other's capital markets. These engagements highlighted Abu Dhabi's potential as a hub for investment and economic growth.

Arvind Ramamurthy, Chief of Market Development at ADGM, stated, "The enthusiastic response we received during the China and Hong Kong roadshows underscores Abu Dhabi’s growing international recognition. Along with ADGM, ADFW has been playing a pivotal role in carrying Abu Dhabi’s ‘Falcon Economy’ across global borders. The demand in the Chinese subcontinent is unprecedented, and both Abu Dhabi and ADGM are ready to embrace these opportunities, further strengthening the 40-year diplomatic relations between our strategically important nations."

Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, added insights into the economic ties between the two countries. He said, "Over the last decade, bilateral investment between the UAE and China has reached billions of dollars, with the UAE's non-oil trade with China reaching US$81 billion in 2023. As Abu Dhabi’s multi-year transformation plans accelerate and China’s pro-business policies bolster its status as a giant in international trade, and a global leader in renewables, we foresee a surge in both inbound and outbound business opportunities along the corridor. Our long-standing presence in both countries, extensive expertise and international network position us well to support businesses and institutions seeking to capture investment and financial flows along these two dynamic markets."

These engagements underscore the importance of fostering strong economic ties between the UAE and China. The roadshows have paved the way for future collaborations that could significantly benefit both nations' economies.

The conclusion of these events marks an important step towards enhancing bilateral relations. It also highlights Abu Dhabi's commitment to positioning itself as a key player on the global economic stage.

With inputs from WAM