UAE and China Launch Digital Service Hub in Dubai Targeting $400 Billion in Trade
The United Arab Emirates and China have officially launched a joint service center in Dubai, a strategic initiative aimed at significantly boosting bilateral trade and investment with an ambitious target of reaching $400 billion in non-oil trade by 2030.
A Platform for Digital Economy Growth
The new UAE-China Digital Trade and Investment Service Center is a collaborative initiative between the UAE Ministry of Economy and the China International Digital Economy Development Association (CIDEA). It is specifically designed to support businesses engaged in the burgeoning digital economy by facilitating cross-border e-commerce, supporting digital payment solutions, providing business matching services, and offering guidance on policy and market access.
Deepening a Strategic Partnership
The establishment of this center underscores the deepening strategic ties between the UAE and China. The launch event was attended by key officials including Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Mr. Wang Jianming, President of CIDEA. The initiative reinforces the UAE's position as a vital gateway and hub connecting China with the wider MENA region, particularly within the framework of China's Belt and Road Initiative.
Looking Ahead: Accelerating Bilateral Trade
The UAE-China Digital Trade and Investment Service Center is poised to play a crucial role in accelerating economic flows between the two nations. By providing a centralized resource for digital trade facilitation and investment support, it seeks to reduce barriers, increase efficiency, and open up new opportunities for companies. The success of the center will be key in working towards the ambitious $400 billion trade target, further solidifying the strategic relationship between the UAE and China.
Source: Fast Company Middle East