UAE, China to hold first digital expo

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

Organised by Hala China, an initiative by Dubai Holding, and International Exhibition Centre Group Corporation, the week-long event 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.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, said: “Bilateral trade between the UAE and China, like many, have met with a speedbump 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.”

“The inauguration of this digital trade expo is a case in point. The event is sure to spark a wave of new possibilities for trade and cultural exchanges between China and the UAE as we enter the reset and recovery phase of the global economic cycle,” added Sheikh Ahmed, who is also President of the Dubai Civil Aviation Authority, Chairman of Emirates airline and Chief Executive of the Emirates Group.

Prior to the disruption caused by the coronavirus pandemic, bilateral trade between China and the UAE had looked set to grow quickly, according to UAE Ministry of Economy figures. Official data 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.