Digital Expo to host thousands of businesses

Event is expected to spark a wave of new possibilities for trade, cultural exchanges

Event is expected to spark a wave of new possibilities for trade

The UAE Ministry of Economy and China’s Council for the Promotion of International Trade (CCPIT), will together host the first China-UAE Economic and Trade Digital Expo. The platform is designed to reinvigorate trade activities between the two countries, as they seek to lay the foundations for bilateral trade in the new digital economy, officials said.

Organised by Hala China, an initiative by Dubai Holding, and the China International Exhibition Centre Group Corporation (CIEC), the weeklong event, running from July 15 to 21, will see leading businesses from the UAE and China interact online to explore new enterprise and economic cooperation opportunities through a range of panel discussions with industry leaders.

The seamless migration of the economic and trade interaction between the two countries to a digital platform reflects the focus of the recently-announced UAE cabinet restructuring — agile digital-first governance in a post-pandemic world.

“Bilateral trade between the UAE and China, like many, have met with a speed bump in 2020. Yet, the deep bonds, adaptability and ambitions to innovate that our two nations share will see us laying the foundations for mutual growth in the new digital economy we are transitioning towards,” said Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of Dubai Holding.

Bilateral trade

Prior to the disruption caused by the coronavirus (Covid-19) pandemic, bilateral trade between China and the UAE had looked set to grow quickly, according to the UAE’s Ministry of Economy figures. Official figures showed that bilateral trade exceeded $50 billion in 2019 — a 16 per cent increase from 2018. Non-oil exports from the UAE to China grew by 64 per cent in the same period driven by the UAE’s aggressive economic diversification. The two countries had set their sights on bilateral trade climbing towards the $100 billion mark before the Covid-19 pandemic created an unprecedented global economic shock.

“The UAE is China’s most important trade partner in the Arab world, accounting for 26 per cent of total non-oilforeign trade between China and Arab countries. With this event we once again express our commitment to fostering a deeper relationship between our two nations,” said Shaikh

Majid Bin Abdullah Al Mualla, Chairman of the Board of Directors, Hala China.

The newly-launched China-UAE Economic and Trade Digital Expo, which aims to become a hub for collaborative business launches, trends and ideas across various sectors, expects to bring together over 100,000 attendees across the seven days of the event.

The event showcases how technology can be applied to create new forms of bilateral cooperation, said Li Xuhang, Consul General of the People’s Republic of China in Dubai.

The UAE is China’s most important trade partner in the Arab world.”

Shaikh Majid Bin Abdullah

Al Mualla | Chairman of the Board of Directors, Hala China