Strong Bilateral Relations between the UAE and Guangxi
The UAE Ministry of Economy organized the UAE pavilion at the 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit.
This summit began on September 24 and will run until September 28 in Nanning, the capital of Guangxi province.
Abdulla Ahmed Al Saleh, Undersecretary of the Ministry of Economy and head of the UAE delegation, participated in the “Development of High-Quality Pilot Free Trade Zones” conference, held on the sidelines of the expo.
He also held bilateral meetings with Tian Li Lan, Governor of Guangxi Province, and several officials and city leaders.
The discussions focused on areas of mutual interest, particularly developmental projects and trade.
This is in light of the ongoing and strong bilateral relations between the UAE and Guangxi, which include projects and understandings across various economic sectors.
The First Gulf Country in 21st China-ASEAN Expo with Special Partnership
In his opening speech at China-ASEAN Expo, Al Saleh highlighted that:
“The UAE’s participation as a special partner, and the first Gulf country to do so, underscores the depth of UAE-China relations.
Those relations continue to grow in all areas, especially economic and trade cooperation.”
He also noted the UAE’s strong ties with ASEAN countries.
Moreover, he emphasized that the expo represents a significant opportunity to enhance cooperation between the UAE and ASEAN countries in various economic fields.
Especially in logistics, investment attraction, energy, and clean energy.
Al Saleh pointed out that China is the UAE’s top global trading partner, accounting for over 11% of the UAE’s non-oil trade.
The UAE’s trade with China reached $42 billion in the first half of 2024, marking a 3% growth compared to the same period in the previous year.
Additionally, there are nearly 15,500 Chinese companies operating in the UAE across promising economic sectors.
China-ASEAN Expo Comes With New Prosperous Opportunities
He further stated that non-oil trade between the UAE and ASEAN countries grew significantly.
As they reached about $18 billion in the first half of 2024.
Reflecting growth rates of 5.3% and 19.2% compared to the same periods in 2023 and 2022, respectively, with ASEAN countries accounting for 5% of the UAE’s non-oil trade.
The UAE has signed two Comprehensive Economic Partnership Agreements (CEPAs).
Those CEPAs came into effect at the beginning of 2024 with two ASEAN members, Indonesia and Cambodia.
There are also advanced negotiations for economic partnerships with Vietnam, Malaysia, the Philippines, and Thailand.
UAE, IRENA collaborate to support 20 developing countries in achieving climate goals The UAE and the International Renewable Energy Agency (IRENA) today announced a strategic partnership to support 20 developing countries in achieving their Nationally Determined Contributions. pic.twitter.com/1ixmx06EZU
— UAE Voice (@uae_voiceeng) September 24, 2024
Growth Rate of Over 63%
During his meeting with Guangxi Governor Tian Li Lan on the sidelines of the “Development of High-Quality Pilot Free Trade Zones” conference, Al Saleh highlighted the ongoing economic and trade cooperation between the UAE and Guangxi.
This cooperation has evolved over recent years.
Particularly in investment, e-commerce, industry, technology, and infrastructure.
Trade between Guangxi and the UAE reached approximately $1 billion.
Compared to $623 million in 2022, marking a growth rate of over 63%.
This collaboration includes significant economic and investment sectors such as the automotive industry, building materials, and food products.
