- Strategic Agreements Signed to Bolster Economic, Trade, and Investment Cooperation
A high-profile economic delegation from Abu Dhabi, led by the Abu Dhabi Department of Economic Development (ADDED), has successfully concluded an official visit to China, culminating in a series of groundbreaking agreements aimed at enhancing bilateral cooperation between government entities and private sector companies. The visit underscored Abu Dhabi’s commitment to deepening its economic and trade ties with China, one of its leading global partners.
The delegation’s visit highlighted the strengths of Abu Dhabi’s “Falcon Economy,” a term used to describe the emirate’s dynamic and rapidly evolving economic landscape. Showcasing the abundant growth opportunities available, Abu Dhabi reinforced its commitment to transformative economic strategies that align with global trends and emerging industries.
A landmark Strategic Cooperation Agreement was signed between the Abu Dhabi Government and the Shanghai Municipal People’s Government, covering a broad spectrum of 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 spearhead efforts to implement the agreement, aligning with the joint communiqués and statements made by the leadership of China and the UAE.
Over a span of six days, the Abu Dhabi economic delegation engaged in high-level bilateral meetings with top Chinese government officials, major businesses, and leading investors across Beijing, Shanghai, Shenzhen, and Hong Kong. The meetings included discussions with:
- Chen Jining, Member of the Politburo of the Chinese Communist Party and Party Secretary of Shanghai
- Yin Yong, Mayor of Beijing
- Gong Zheng, Mayor of Shanghai
- John Lee, Chief Executive of Hong Kong
These engagements facilitated deeper dialogue on economic collaboration, investment prospects, and new business opportunities that will benefit both regions.
Chinese Industry Giants
The Abu Dhabi delegation also explored collaboration opportunities with some of China’s most influential companies, including:
- ByteDance (parent company of TikTok)
- Xiaomi (leading consumer electronics brand)
- Legend Holding (investment firm and parent of Lenovo)
- Xiaodong (technology and innovation firm)
- BYD (world’s largest EV manufacturer)
- CICC (leading financial services firm)
- CATL (global leader in battery production)
These meetings provided an avenue to discuss potential joint ventures, technology transfers, and expansion of Chinese businesses into Abu Dhabi’s thriving investment ecosystem.
UAE-China Relations
The economic ties between the UAE and China have strengthened significantly over the past two decades. Trade volumes have surged from $2 billion (Dh7.4 billion) in 2000 to nearly $100 billion (Dh367 billion) in 2023. The upward trajectory continues, with trade between the two nations reaching $74.5 billion (Dh273.4 billion) in the first nine months of 2024 and projected to hit $200 billion (Dh734 billion) by 2030.
Chinese investments in the UAE grew by 16%, while UAE investments in China skyrocketed by 120%, showcasing the mutual confidence and trust in economic collaboration. Additionally, the number of Chinese companies registered with the Abu Dhabi Chamber of Commerce and Industry (ADCCI) increased by 38% in 2023 and 69.4% in 2024, highlighting Abu Dhabi’s appeal as an investment destination.
Ahmed Jasim Al Zaabi, Chairman of ADDED, emphasized the significance of this growth, stating:
“We are pleased with the outcomes of our visit to China, which builds upon our strong foundations and long-standing ties. By exploring new opportunities in high-growth sectors and emerging industries, we continue to foster a partnership built on mutual trust, collaboration, and a shared vision for addressing global economic challenges.”
He further added:
“Economic cooperation remains a key pillar in solidifying relations between the UAE and China. We are committed to building bridges with key economies, global powerhouses, and trading partners, guided by our leadership’s forward-thinking and proactive approach to shaping a prosperous future for all.”
Abu Dhabi’s Economic Vision
Senior officials from various Abu Dhabi entities accompanied the delegation, including:
- Badr Al Olama, Director General of the Abu Dhabi Investment Office (ADIO)
- Rashed Lahej Al Mansoori, Director General of Abu Dhabi Customs
- Shamis Al Dhaheri, Second Vice Chairman – Managing Director of ADCCI
- Hamad Sayah Al Mazrouei, CEO of the Registration Authority, Abu Dhabi Global Market (ADGM)
- Ahmad Ali Alwan, CEO of Hub71
These officials played a vital role in engaging with Chinese business leaders, entrepreneurs, and investors, highlighting Abu Dhabi’s business-friendly ecosystem, competitive advantages, and investment incentives.
As part of the visit, the Abu Dhabi Investment Forum (ADIF)—organized by ADIO and ADGM in Beijing and Shanghai—attracted leading Chinese investors, fostering discussions on opportunities in Abu Dhabi’s rapidly expanding economic landscape.
During the visit, ADIO and ADGM signed multiple agreements with top Chinese firms to enhance investment intelligence, support international expansion, and deepen economic ties. Some key agreements include:
- Fosun International Limited (HKEX stock code: 00656) – a global innovation-driven consumer group
- Hejun Group – one of China’s leading consulting firms
- Wind Information – China’s premier financial information services provider
- Yicai – a top financial media group specializing in economic and financial news
These partnerships aim to introduce Abu Dhabi’s investment landscape to leading Chinese enterprises while fostering bilateral trade and economic integration.
Additionally, ADCCI signed a strategic cooperation agreement with the Shanghai Federation of Industry and Commerce to promote bilateral trade and investment collaboration, streamlining joint efforts to support Chinese businesses seeking expansion in Abu Dhabi.
One of the major highlights of the visit was the Abu Dhabi-Shanghai Business Forum, organized by ADCCI. The event provided a crucial platform for UAE and Chinese businesses to engage in B2B meetings, establish new partnerships, and sign agreements that will further enhance bilateral trade and investment opportunities.
UAE-China Economic Partnership
The Abu Dhabi economic delegation’s visit to China marks a significant milestone in the UAE’s economic diplomacy efforts. The strategic agreements, high-level engagements, and investment forums held during the visit reflect the mutual commitment of Abu Dhabi and China to fostering long-term economic cooperation and sustainable growth.
With trade relations expected to surpass $200 billion by 2030, and Chinese businesses increasingly choosing Abu Dhabi as their regional hub, the UAE-China economic partnership is poised to become one of the strongest in the global economic landscape.
As Abu Dhabi continues to diversify its economy, attract foreign investments, and position itself as a global business hub, its collaboration with China’s leading industries and government bodies will play a pivotal role in shaping the future of trade, investment, and innovation between the two nations.
This visit not only reinforces Abu Dhabi’s vision of economic growth and innovation but also strengthens the foundation for a more prosperous and interconnected global economy.
