Trade between Dubai and China, which has been increasing steadily over the past five years, soared by Dh22.7 billion – or 47 per cent – in 2007.


Non-oil trade between the two countries increased from Dh48.4bn in 2006 to Dh71.2bn in 2007, according to figures from Dubai World’s Statistics Department. “China and Dubai have excellent bilateral relations,” said Dubai World Chairman Sultan Ahmed bin Sulayem.
 
“China is a major trading partner and we give high importance to further strengthening the relationship between the two countries. China has succeeded in building a very impressive economic base.

“Dubai World is a major investor in China through its projects in Qingdao and Shanghai ports and is looking to expand into other areas. The proposed visit to China by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, comes within the scope of furthering co-operation and economic ties between the two countries,” bin Sulayem said.

Non-oil trade between Dubai and China has maintained a steady upward trend during the past five years.

There was growth of 37.5 per cent in 2004, 30.7 per cent in 2005 and 35.2 per cent in 2006.

Nassim Al Mehairi, acting head of the statistics department, said China came second in the list of Dubai’s top trading partners in 2007 for the third consecutive year.

And it topped the list of sources of imports, which were worth Dh69.9bn.

China is Dubai’s 12th largest destination for exports, which were worth Dh661.2m last year. It is also a major re-export market – worth Dh622.3m.