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Expo 2020 Dubai deepens ties with Chinese business

Expo 2020 Dubai agreement deepens China's presence and influence in the UAE as ties between the two nations continue to grow

The agreement will attract Chinese investment for Expo 2020 Dubai's legacy project, District 2020.
The agreement will attract Chinese investment for Expo 2020 Dubai's legacy project, District 2020.

Expo 2020 Dubai chiefs have strengthened ties with China by agreeing to promote business and cultural ties between the GCC and the Asian superpower.

A memorandum of understanding (MoU) was signed by Expo 2020 Dubai and the China-Arab International Cooperation Committee (CAICC) to encourage Chinese corporations "to take full advantage" of the business opportunities before, during, and after the event that begins in October 2020.

The Shanghai-based organisation is a government-backed supporter of the Belt and Road Initiative and will drum up investment for Expo 2020 Dubai's legacy project, District 2020.

District 2020 is an interconnected mixed-use development featuring offices, residential communities, two parks, and public attractions.

READ: DP World to build trading hub for China’s Belt and Road

Exclusive trips for the Chinese government to visit Expo 2020 Dubai will be organised to mark a decade since Shanghai hosted the World Expo in 2010.

The agreement came after Chinese President Xi Jinping visited the UAE and inked at least 13 trade and cooperation agreements here, a move that has highlighted China's growing presence in the region.

The strategic alliance will be celebrated every year with the UAE-China Week.

"The bilateral relationship between China and the UAE has reached a new level with a newly declared deep strategic partnership between the two countries," said chairperson of World Expo Museum, Hong Hao.

"As Dubai’s sister city, Shanghai is willing to share all the experience of hosting a World Expo and work together to contribute to Dubai’s future development. The CAICC will give maximum support to the organisers of Expo 2020 Dubai."

The UAE is keen to welcome Chinese businesses and tourists to the seven emirates and property market chiefs have also expressed their keenness to attract Chinese investors.

Executive director of Dubai Expo 2020 Bureau, Najeeb Mohammed Al-Ali, who signed the MoU, said the agreement would help the event "reach out to our target audiences and build new relationships in Shanghai and neighbouring provinces".

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Construction Week - Issue 751
Oct 13, 2019