Preparatory meeting of UAE-China Joint Economic Committee held in Beijing

The preparatory meeting of the 6th UAE-China Joint Economic Committee was held today in the Chinese capital, Beijing.

The main meeting of the committee will be held tomorrow and will be led by Sultan bin Saeed Al Mansouri, Minister of Economy, and Zhong Shan, Minister of Commerce of China, with the participation of senior officials from the governments of both countries.

The UAE delegation that participated in the preparatory meeting was led by Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, while the Chinese delegation was led by Jong Mang Ying, Director-General of the Ministry of Commerce in China.

It also saw the participation of Mohammed Al Shamsi, UAE Deputy Ambassador to China, and Badir Al Musharrekh, UAE Commercial Attache to China, as well as senior officials and representatives of government authorities from both sides.

The meeting highlighted the framework of joint co-operation between the two countries in several vital sectors of common interest, which were discussed during a previous technical meeting and included in the draft co-operation protocol of the 6th Joint Economic Committee.

Some of the major topics that were discussed include promoting co-operation in the fields of commerce, industry, investments, aviation, energy, renewable energy, infrastructure, financial and tourism, as well as in small and medium-sized companies, innovative industries, health and education.

The meeting also witnessed detailed discussions about the clauses on the agenda of the 6th Economic Committee, and both sides highlighted their desire to support the efforts to enhance and develop their economic and commercial relations, to serve their development goals.

Al Shehhi stressed the importance of the session, as a continuation of the work of previous committee sessions after a nine-year gap, during an important period where the two countries have witnessed considerable economic development, and at a time when many economic changes have occurred around the world that affected global commerce, investments and other economic activities, which resulted in many opportunities and challenges that require higher levels of co-operation.

Al Shehhi also noted that the economic relations between the UAE and China are strong and are built on the foundations of friendship, respect and common interests, and both countries are linked by many agreements and Memorandums of Understanding, MoU, in many vital economic areas. China is the second largest commercial partner of the UAE, which is its major commercial partner in the region, he added.

He also stressed the importance of the UAE-China Joint Economic Committee meetings, which provide a vital and important platform to improve the level of co-ordination between both countries and for their agreement on the most appropriate economic policies, to strengthen their economic and commercial ties and open new fields of co-operation between UAE national companies and their Chinese counterparts.

He continued by saying that the economic sectors focussed on by the committee are prioritised by both countries. They are also examples of co-operation between the public and private sectors of both countries, and at their forefront are innovation, small and medium-sized enterprises, investments, industry, infrastructure, renewable energy, financial services, health and education, he added.

Jong Mang Ying stated that the level of economic and commercial co-operation between the UAE and China has witnessed tangible improvements and has the capacity to further develop in the near future.

She added that both countries are making considerable efforts to strengthen their co-operation in the areas of commerce, industry, and small and medium-sized companies while adding that the Belt and Road Initiative will provide greater opportunities for economic partnerships between their private sectors. She also stressed that the discussions and deliberations of the Joint Economic Committee can lead to greater co-operation which will support and facilitate economic and commercial co-operation between investors and companies from both countries, which will positively affect their joint economic and commercial relations.

The UAE delegation that participated in the meeting comprised Dr. Matar Al Neyadi, Under-Secretary of the Ministry of Energy; Matar Al Hameli, Assistant Under-Secretary for the Support Services Sector at the Ministry of Education; Ibrahim Al Zaabi, Director-General of the Insurance Authority; Abdullah Al Maeeni, Director-General of the Emirates Authority for Standardisation and Metrology; Mohammed Al Nuaimi, Assistant Secretary-General of the Federation of UAE Chambers of Commerce and Industry; Marwan Al Serkal, CEO of the Sharjah Investment and Development Authority, Shorouq; Fahad Al Gergawi, CEO of the Dubai Investment Development Agency, Dubai FDI, and Mohamed Ali Musabah Al Nuaimi, Chairman of the Ras al-Khaimah Chamber of Commerce and Industry.

The UAE delegation also included senior representatives from government and private sector authorities and organisations, such as the Central Bank, the UAE Space Agency, the Sharjah Chamber of Commerce and Industry, the Dubai Islamic Economy Development Centre, the Mubadala Investment Company, Masdar, Emirates Global Aluminium, Borouge, and Al Dahra Holding.