Dubai-China trade soars past $19 bn

March 23rd, 2008 - 7:27 pm ICT by admin  

Dubai, March 23 (IANS) 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, WAM reported Sunday, quoting official figures. 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 bin 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 Bin 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 bin 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.

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