DP World to strengthen relations with China

DP World, Dubai World's flagship global marine terminal operator, is looking to strengthen its ties with China following a visit by a 17-member high-level civic delegation from Shanghai led by Han Zheng, the city's mayor.

The delegation's visit, which underlined the rapidly growing economic ties between Dubai and China, was part of a familiarisation tour aimed at getting first hand knowledge about the new developmental projects that Dubai World is undertaking at its home base.

Jamal Majid bin Thaniah, Executive Vice-Chairman of DP World and Group CEO of Ports and Free Zone World, and Mohammed Sharaf, CEO of DP World, received the delegation and briefed the visitors on the various projects under development.

"The Shanghai delegation's visit underlines the strong relations between DP World, Dubai World and China. The Group's investments in that country play a major role in Dubai's trade ties with it. The visit also provides an opportunity for closer interaction that will benefit all stakeholders," said Jamal Majid, while hosting the delegation.

DP World currently operates five marine terminals in China, including Qingdao Qianwan Container Terminal, ACT and CT3 in Hong Kong, DP World Yenta and Tianjin Orient Container Terminals. CT3 was rated the best terminal in the under-four million TEU category in the Asia Freight and Supply Chain Award in 2007.

The visit is expected to generate further interest in future investments.

"Shanghai's role as a fast-growing trade and commercial hub is similar to that of Dubai, and China is an important part of our global network of ports. The delegation's visit reflects the keen interest China shows in our operations and the wider linkage with the Dubai World group of companies," said Sharaf.

The Shanghai delegation was given a detailed presentation of Nakheel's island developments, including The Palm Trilogy, The World and Waterfront, at the real estate developer's head office.

Economic relations between Dubai and China have been steadily growing over the years and received an added momentum after the visit to the country by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in April.

Non-oil trade between Dubai and China soared to a 47 per cent high in 2007, according to Dubai World's Statistics Department figures.

China came second in the list of Dubai's top trading partners in 2007 for the third consecutive year.