A significant corporate delegation from the Chinese General Chamber of Commerce (CGCC), based in Hong Kong, was welcomed by Dubai Chambers, and an MoU to promote economic cooperation was also inked.
Dr. Jonathan Choi, the chairman of the Chinese General Chamber of Commerce, led a delegation of 26 senior businesspeople from Hong Kong, including financiers, investors, and real estate agents.
The MoU, which was signed as part of the group's three-day visit to the UAE, aims to deepen the parties' existing bonds in order to improve economic connections.
The two chambers will cooperate on participation in trade fairs, conferences, business matching events, and other networking activities. The agreement also calls for the two chambers to expand mutual support for trade and investment missions.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “The trade visit was a great success, with the signing of an MoU heralding a new era in closer trade ties between Dubai and China. We shared with the delegation the Chamber’s vision, mission, goals, and activities, as well as some of the current challenges and opportunities facing the UAE business community.”
Commenting on trade opportunities, he added: “We have solid exports and imports between our nations, but can do more. We see great potential in importing more apparel, boats and parts, iron and steel, and textiles. In terms of exports, our data indicates there are opportunities for the UAE to export more ships and boats, textiles, gums and resins, and silk products to Hong Kong and China. From an investment perspective, we see some exciting opportunities in agriculture, manufacturing, the services sectors, and technology, which we hope this MoU will encourage.”