DUBAI, 18th May, 2020 (WAM) — Dubai Chambers and the Chinese General Chamber of Commerce in Hong Kong signed a memorandum of understanding to enhance bilateral cooperation and coordination between the two sides to serve common goals and enhance economic partnerships between the two sides, on the sidelines of hosting a large trade delegation from the Chinese General Chamber of Commerce.
The delegation of the General Chamber of Commerce included 26 personalities representing business leaders in the fields of investment, finance and real estate in Hong Kong, and was headed by Dr. Jonathan Choi, President of the Chinese General Chamber of Commerce.
The memorandum of understanding provides for enhancing cooperation in the field of participating in events, receiving and organizing visits of joint delegations, exchanging experiences and knowledge, in addition to contributing to supporting intra-trade between the business communities of the two sides.
Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, said: Our meeting with the visiting delegation was very positive, as we informed them of our priorities and strategic plans, and reviewed business opportunities and how to unify and combine our efforts to achieve common goals and interests.
Lootah added that there are huge opportunities to enhance the volume of trade exchange between China and the UAE, and highlight investment opportunities in the field of importing more clothes, boats, spare parts, iron and steel, and textiles. There are also opportunities to export more ships and boats, textiles, gum and resin, and silk products.
Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, opened last February a new representative office in Hong Kong within the framework of the “Dubai Global” initiative launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, to establish 50 offices. commercial promotion of Dubai around the world by 2030.
The Dubai Global initiative, led by Dubai Chamber International, aims to attract multinational corporations, small and medium enterprises, investors and talent to the emirate by showcasing its competitive advantages, sharing investment information and networking with stakeholders abroad.
