Dubai, China have second trade meeting

The Dubai Multi Commodities Centre hosted a government and trade delegation from Shenzhen, China. The delegation discussed the scope of bilateral trade, particularly in diamond, jewelry, pearls, and colored stones.

The 10-member Shenzhen delegation was led by Mr. Ni Zewang, member of the Standing Committee of the CPC Committee of Luohu District, and executive vice-governor of the People’s Government of Luohu District and Gao Lin, vice-chairman of the Luohu District committee of Chinese People’s Political Consultative Conference.

“Both Dubai and Shenzhen have risen over the decades from once small fishing villages to global economic centers. In that sense, the two cities share a common history,” said Ahmed Bin Sulayem, DMCC executive chairman. “We are pleased to engage in this dialogue with the Government of Shenzhen and explore new business and trade opportunities that will further strengthen Dubai’s trade relations with China. We are confident that this collaboration will facilitate an even more conducive business environment for both sides and prove beneficial for commodities traders in both Dubai and Shenzhen.”

According to figures from the Statistics Department of Dubai World, the total trade between Dubai and China touched AED 96.86 billion ($26.37 billion), in 2008, up 36 percent from 2007.

This is the second between Dubai and China. Last year, Sheikh Mohammed Bin Rashid Al Maktoum, vice-president and prime minister of the UAE and Ruler of Dubai, visited China to strengthen ties between the two entities. DMCC signed a memorandum of understanding with the People’s Government of Panyu District, for increased cooperation towards mutual growth and the promotion of jewelry trade between both entities, with a special focus on diamonds and colored stones.