UAE-China trade grows nearly 400 percent

September 10th, 2012 - 8:19 pm ICT by IANS  

Abu Dhabi, Sep 10 (IANS/WAM) Trade between the UAE and China has increased five-fold in the past 10 years, achieving a growth rate of a whopping 395 percent to $15.65 billion in 2011 from the $3.12 billion in 2002.

During this period, both countries achieved steady economic growth capable of overcoming the ramifications of the slowing global economy.

In a study released by the UAE’s ministry of foreign trade on business relations between the two countries, it was revealed that China maintained its status as the UAE’s second-largest trade partner.

Trade between the two countries grew to $15.6 billion in 2012 compared to $14.2 billion in 2011.

The main imports from China were electronic appliances, radio audio recording devices, cameras, mechanical tools and devices, and iron and steel. The main exports to China were plastics, copper and iron and their products.

The study revealed that the halal food industry and market in China should be explored further as the market was worth $2.5 billion last year due to the presence of millions of Muslims in China.

–IANS/WAM
pm/dg

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