The UAE and China have a strong partnership. It shows how well two countries can work together. They have grown their non-oil trade to AED 296 billion (US$81 billion) in 2023.
This partnership changes how we see global diplomacy and working together. Let’s find out why.
Historical Foundation and Evolution of UAE-China Comprehensive Partnership
The United Arab Emirates and China have a strong partnership. It started over 40 years ago. Now, it covers many areas.
Establishment of Diplomatic Relations
In 1984, the UAE and China became friends. This was the beginning of a close relationship. They started working together on trade and business.
Milestone Visits and Strategic Agreements
Visits from leaders helped their partnership grow. In 1990, Sheikh Zayed bin Sultan Al Nahyan visited China. This was the first time a Gulf leader went there.
Development of Bilateral Framework
Since 2018, their partnership has grown fast. They have 148 agreements in areas like trade and culture. This partnership has led to big growth:
- Trade volume increased 800-fold since 1984
- Non-oil trade reached $80.6 billion in 2023
- UAE investments in China totaled $11.4 billion from 2003-2022
- Over 350,000 Chinese residents now call the UAE home
These numbers show how strong their partnership is. As they look to the future, their bond will only get stronger.
Economic and Trade Cooperation Achievements
The UAE and China have grown their economic partnership. They have made big steps in trade and investment. This shows how strong their trade relations are.
Non-Oil Trade Growth and Statistics
In 2023, trade between the UAE and China hit $80.6 billion. This is a 12% jump from the year before. China is the UAE’s biggest trading partner. The UAE is China’s top export market in the Middle East.
| Year | Bilateral Trade Volume | Chinese Exports | Chinese Imports |
|---|---|---|---|
| 2023 | $94.98 billion | $55.69 billion | $39.29 billion |
| 2024 (First Half) | $50.11 billion | Data not available | Data not available |
Investment and Infrastructure Development
Investments between the UAE and China have grown a lot. From 2003 to 2022, the UAE put $11.4 billion into China. They focused on real estate, finance, and green energy.
Chinese investments in the UAE were $6.9 billion. They mainly went into energy, ports, and building.
Energy and Technology Collaboration
The UAE and China are working together on renewable energy. The Dubai Hassyan power station, built by Harbin Electric International, meets 20% of Dubai’s power needs. Chinese companies are getting into solar, wind, and hydrogen.
Financial Integration and Currency Cooperation
The UAE and China are getting closer financially. They are working on using local currencies and clearing renminbi. This helps their economic ties under the Belt and Road Initiative.
Conclusion
The UAE and China have formed a strong partnership. This partnership has helped their economies grow and has brought people closer. In 2023, they traded $94.98 billion worth of goods.
In the first half of 2024, they traded nearly $50.11 billion. China is now the UAE’s biggest trading partner. The UAE is China’s main export market in the Middle East.
Free trade agreements have opened up new business chances. There are 15,500 Chinese companies in the UAE. Dubai has opened three international offices in China to strengthen their bond.
Their non-oil trade grew to over $70 billion in 2022. This shows they are working hard to diversify their economies.
They are also working together in technology. This helps the UAE reach its goal of being a modern nation by 2071. China is also modernizing fast.
In public administration, they are setting new standards. This is helping the Persian Gulf region a lot.
Cultural exchanges between the UAE and China are growing. They have started Chinese language programs in UAE schools. There are 44 weekly flights between them, making their connection strong.
As they celebrate 40 years of friendship, their partnership is ready to make a big impact. It will help shape the world and promote sustainable growth.
