DUBAI, 24 March 2008 — Trade between China and Dubai jumped to $19.4 billion in 2007 from $13.18 billion in the previous year, according to figures released here yesterday.
Figures compiled by Dubai World showed that the trade surge last year was contributed by imports from China. This reflects a very positive trend in the economic relations between Dubai and China over a growing area of investment in different sectors.
China topped the list of countries from which Dubai imports goods, with imports valued at $19 billion.
Non-oil trade between Dubai and China, which has been increasing steadily over the past five years, has registered an increase by 47 percent at $19.4 billion, according to official figures released yesterday.
Dubai World’s Statistics Department figures show bilateral trade during 2007 rose from AED 48.4 billion ($13.18 billion) in 2006 to AED 71.2 billion ($19.4 billion) in 2007.
Sultan Ahmed ibn Sulayem, chairman, Dubai World, said: “China is a major trading partner for Dubai and we give high importance to further strengthening the relationship between the two countries.”
Dubai World, said Sulayem , is a major investor in China through its projects in Qingdao and Shanghai ports, and is looking to expand into other areas.
The proposed visit to China by Sheikh Mohammed ibn Rashid Al-Maktoum, vice president and prime minister of the United Arab Emirates (UAE) and ruler of Dubai, will boost cooperation and economic ties between the two countries, bin Sulayem added.
Nassim Al-Mehairi, acting head of the Statistics Department, said China occupies the 12th position as Dubai’s export destination, for a value of around AED 661.2 million. It is also a major re-export market for Dubai, the value reaching around AED 622.3 million, he added.
