Dubai-China trade grows 81% to $37.84bn over 10-year period
Bilateral trade grew 4% to reach $19.4bn (AED71.4bn) in H1 2019 compared to $18.7bn (AED68.8bn) for the same period in 2018
China is Dubai’s top strategic partner with bilateral trade amounting to $37.84bn (AED139bn) in 2018, which shows an 81% growth compared to $20.9bn (AED77bn) in 2009, the director general of Dubai Customs, Ahmed Mahboob Musabih said during a discussion with representatives from more than 20 Chinese companies headed by Chinese Consul General to Dubai, Li Xuhang.
According to the Dubai Media Office, the meeting was also attended by Abdullah Mohammed Al Khaja, executive director of the customer management division, as well as customs executive directors and heads of customs departments and centers.
Commenting on the growth of trade between the two nations, Musabih said: “Dubai trade with China saw 4% growth to reach $19.4bn (AED71.4bn) in H1 2019 compared to $18.7bn (AED68.8bn) in the same period in 2018. There are strategic agreements between the UAE and China including the recently signed mutual recognition Authorized Economic Operator agreement which will facilitate trade, especially with the advent of Expo 2020.”
Musabih added: “We are happy to see more interest from the Chinese companies to invest in Dubai and a stronger presence in Jebel Ali Free Zone (Jafza). This encouraged us to launch the Traders Market; the first smart free zone market place in the Middle East for the retail and wholesale industries. It allows international traders to procure bulk products in Dubai at wholesale prices, and supports Dubai bold plans including the Dubai Silk Road.”
There are 876 Chinese companies registered at Dubai Customs. These include 623 companies with trade licenses, 244 with free zone licenses, and 9 with professional licenses.