Dubai South signs MoUs for China's Jinping-led Belt and Road Initiative
MoUs with trade and commerce associations in Shanghai to see Dubai South invite Chinese investors in e-commerce and logistics
Dubai South has signed memorandums of understanding (MoUs) with two Chinese trade associations to boost economic relations with the Asian superpower and promote development as part of the Belt and Road Initiative (BRI).
Signed at Dubai South’s headquarters, the agreements were reached with China Council for the Promotion of International Trade Shanghai and China Chamber of International Commerce Shanghai.
The move is designed to promote BRI, a multitrillion-dollar infrastructure movement led by Chinese President Xi Jinping.
As part of the MoUs, the Chinese associations will organise exchange visits for trade missions and project study groups for various economic and trade sectors, as well as offer potential key services for Dubai South.
In return, Dubai South will host investment and business delegations from China to explore business opportunities focused on industries such as e-commerce, logistics, supply chain, and trading within the Dubai free zone.
Dubai South’s executive chairman, HE Khalifa Al Zaffin, said the new agreements would expand investment options for key companies from both cities.
He added: “China continues to enhance its trade and diplomatic ties in the GCC, especially in the UAE considering it is the fifth largest source market for the country.
“Out of 5,000 Chinese companies in the UAE, 4,000 are based in Dubai alone, which represents the strong market ties between Dubai and leading Chinese markets.”