China-UAE Trade Set to Reach $200 Billion by 2030

Leaving no stone unturned in its efforts to further strengthen trade ties with other countries, the UAE’s bilateral trade with China has grown from $2 billion in 2000 to nearly $100 billion in 2023. In the first nine months of 2024, the trade between the UAE and China reached $74.5 billion and is projected to rise to $200 billion by 2030.

While the Chinese investments in the UAE rose 16%, UAE investments in China soared 120% during the same period. The number of Chinese companies registered with the Abu Dhabi Chamber of Commerce and Industry grew by 38% in 2023 and 69.4% in 2024, reflecting the attractiveness of Abu Dhabi to Chinese businesses and investors.

To give further impetus to the bilateral trade, an Abu Dhabi economic delegation, led by the Abu Dhabi Department of Economic Development (ADDED), has concluded a six-day long successful visit to China last week, and signed several ground-breaking agreements to enhance cooperation between government entities and private sector companies in Abu Dhabi and China, reaffirming the Emirate’s efforts to build and cement partnerships with leading economies and trading partners.

The delegation’s visit also showcased the ample growth opportunities available in Abu Dhabi, and the Emirate’s commitment to transformative strategies to address new trends and changes in the global economy.

A strategic cooperation agreement was signed between the Abu Dhabi Government and Shanghai Municipal People’s Government, covering wide-ranging areas including business, trade, finance, science, technology, education, culture, health, tourism, and ports.

The Foreign Affairs Office of the Shanghai Municipal People’s Government and ADDED will lead efforts and initiatives to achieve the objectives of the agreement in line with the joint communiques and statements announced by the leaders of both countries. The delegation also explored new opportunities with leading Chinese companies including ByteDance, Xiaomi, Legend Holding, Xiaodong, BYD, CICC, and CATL.

Further Enhancing Partnership

ADDED Chairman Ahmed Jasim Al Zaabi said that the outcome of their visit to China, was built on strong foundations to further enhance our partnership by exploring new opportunities in clusters with high-growth potential and emerging industries.

The steady and impressive growth of bilateral trade and mutual investments between the UAE and China is a testament to our shared commitment to further strengthen the strategic cooperation, based on mutual trust, collaboration, and a common vision to address global economy’s challenges, he said.

“As economic cooperation is a key pillar in cementing relations, we are forging ahead with efforts to build bridges and enhance bonds with key economies, powerhouses, and trading partners around the world, guided by our leadership’s collaborative and proactive approach to shaping a better future for all,” he said.

The Abu Dhabi Investment Office (ADIO) and Abu Dhabi Global Market (ADGM) signed agreements with leading Chinese entities, including Fosun International Limited, a global innovation-driven consumer group; Hejun Group, one of China’s leading consulting firms; Wind Information, China’s leading financial information services provider; and Yicai, a leading Chinese financial media group and provider of reliable and insightful information and analysis of the economy, finance, tech, start-ups, and entrepreneurs.

These agreements are aimed at introducing Abu Dhabi’s investment opportunities to leading Chinese businesses and investors, enhance investment intelligence, support Chinese companies’ international expansion, and deepen economic ties between Abu Dhabi and China.