Abu Dhabi Economic Delegation to China Signs Key Business Agreements

Photo: Abu Dhabi Media Office

An economic delegation from Abu Dhabi, led by the Abu Dhabi Department of Economic Development (ADDED), has completed a visit to China. This visit marked an important step in strengthening ties between Abu Dhabi and China. Several key agreements were signed to improve cooperation between government agencies and private companies from both regions. These agreements highlight Abu Dhabi’s efforts to build strong partnerships with major economies worldwide.

During the visit, the delegation introduced the strengths of Abu Dhabi’s "Falcon Economy," showcasing its many opportunities for growth and development. They also emphasized Abu Dhabi’s dedication to modern strategies that address new trends and global economic changes.

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A major agreement was signed between the Abu Dhabi Government and the Shanghai Municipal People's Government. This agreement covers several areas, including business, trade, finance, technology, education, culture, health, tourism, and port development. The Foreign Affairs Office of the Shanghai Municipal People's Government and ADDED will work together to achieve the goals of this agreement. Their efforts align with the shared vision of the leadership of the UAE and China.

Over six days, the delegation engaged in multiple meetings with top officials, business leaders, and investors in Beijing, Shanghai, Shenzhen, and Hong Kong. Key figures they met included His Excellency Chen Jining, a senior Chinese government official; His Excellency Yin Yong, the Mayor of Beijing; His Excellency Gong Zheng, the Mayor of Shanghai; and His Excellency John Lee, the Chief Executive of Hong Kong.

The delegation also explored new business opportunities with major Chinese companies such as ByteDance, Xiaomi, Legend Holding, Xiaodong, BYD, CICC, and CATL. These discussions focused on expanding cooperation and investment between Abu Dhabi and China.

His Excellency Ahmed Jasim Al Zaabi, Chairman of ADDED, expressed satisfaction with the visit’s outcomes. He highlighted that this trip builds on strong foundations and opens new opportunities in industries with high growth potential. He pointed out the steady increase in trade and investments between the UAE and China, which reflects their commitment to strengthening strategic cooperation. He emphasized the importance of economic collaboration in creating long-lasting relations with key global partners.

Trade between the UAE and China has grown significantly in recent years. In 2000, bilateral trade was just $2 billion (AED 7.4 billion), but by 2023, it had reached nearly $100 billion (AED 367 billion). In the first nine months of 2024 alone, trade between the two countries reached $74.5 billion (AED 273.4 billion). Experts predict that by 2030, trade between the UAE and China could rise to $200 billion (AED 734 billion).

Chinese investments in the UAE have increased by 16%, while UAE investments in China have risen by 120%. The number of Chinese companies registered with the Abu Dhabi Chamber of Commerce and Industry has also grown, increasing by 38% in 2023 and an impressive 69.4% in 2024. These figures show Abu Dhabi’s growing appeal as a destination for Chinese businesses and investors.

Prominent officials who participated in the visit included His Excellency Badr Al Olama, Director General of the Abu Dhabi Investment Office (ADIO); His Excellency Rashed Lahej Al Mansoori, Director General of Abu Dhabi Customs; His Excellency Shamis Al Dhaheri, Second Vice Chairman - Managing Director of the Abu Dhabi Chamber; His Excellency Hamad Sayah Al Mazrouei, CEO of the Registration Authority at ADGM; and Ahmad Ali Alwan, CEO of Hub71. They were joined by other senior government and private sector executives who took part in meetings and events.

The Abu Dhabi Investment Forum (ADIF), hosted by ADIO and ADGM in Beijing and Shanghai, attracted Chinese investors and businesses. The forum aimed to introduce investment opportunities in Abu Dhabi and encourage Chinese companies to take advantage of the emirate’s business-friendly environment.

During the visit, ADIO and ADGM signed agreements with major Chinese firms such as Fosun International Limited, a leading global consumer group; Hejun Group, a well-known consulting firm; Wind Information, a financial information services provider; and Yicai, a financial media group. These agreements are designed to promote Abu Dhabi’s investment opportunities, support Chinese businesses in expanding internationally, and strengthen economic ties between the two regions.

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) also signed a strategic cooperation agreement with the Shanghai Federation of Industry and Commerce. This agreement aims to enhance trade and investment between Abu Dhabi and Shanghai while assisting Chinese businesses looking to establish operations in Abu Dhabi.

To further encourage collaboration, the Abu Dhabi-Shanghai Business Forum was held by ADCCI. The event provided a platform for businesses from both regions to connect, discuss opportunities, and form partnerships through business-to-business (B2B) meetings.

This successful visit highlights Abu Dhabi’s commitment to strengthening its economic ties with China and supporting long-term partnerships. With strong agreements and growing investments, both regions are set to benefit from increased cooperation and shared growth in the years to come.

Feb. 23, 2025 11:09 a.m. 498

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