Strategic agreements between the United Arab Emirates and China to boost trade and advance the ‘Belt and Road’ initiative.

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Chinese President Xi Jinping oversaw the signing of several agreements and memorandums of understanding aimed at strengthening cooperation between the two countries in various sectors on Thursday.

The deals cover several key areas, including investment, the Belt and Road Initiative (BRI), industry and technology, and tourism.

It highlighted the UAE’s focus on strengthening its strategic engagement with China, which is its main trading partner for non-oil business activities.

UAE-China trade

Sheikh Mohamed underlined the UAE’s strategic priority to deepen its relationship with China, which he described as a reliable and long-term partner.

He said the agreements signed reflect a mutual commitment to advancing cooperation in various fields, including the economy, trade, energy, science, technology, education and culture.

By 2022, non-oil bilateral trade between the UAE and China reached around Dh264.2 billion, rising to Dh296 billion by 2023, according to UAE government data.

Major agreements and memorandums of understanding signed:

• The Belt and Road Initiative: Memorandum of Understanding on the Joint Formulation of the Cooperation Plan.
• Development: Establishment of the High-Level Investment Cooperation Committee between China and the United Arab Emirates.
• Media: Memorandum of Understanding on cooperation between the UAE Media Council and the State Administration of Radio and Television of China, and another between the UAE National Media Office and the China Media Group.
• Nuclear energy: Agreement on intergovernmental cooperation between China and the UAE on the peaceful use of nuclear energy.
• Maritime sector: Protocol of Understanding on the Recognition of Certificates of Competence for Seafarers.
• Science and Technology: Cooperation Agreement on Science and Technology and Memorandum of Understanding on Cooperation in Industry and Technology.
• Intellectual property: Agreement on cooperation in the field of intellectual property.
• Tourism: Cooperation agreement in the tourism sector.
• Green development: Promotion of investment cooperation in this area.
• Education and culture: Memorandums of Understanding on cooperation in the fields of health, the cultural sector, higher education and the joint teaching of the Chinese language.
• Statistics: Memorandum of Understanding on statistical cooperation between the UAE Federal Centre for Competitiveness and Statistics and the National Bureau of Statistics of China.

The United Arab Emirates and China are also collaborating on the BRI, a major global infrastructure project launched by President Xi Jinping in 2013.

Both nations also collaborate in the financial sector, as evidenced by the UAE Central Bank’s renewed currency swap agreement with the People’s Bank of China and Abu Dhabi’s Mubadala Investment Company’s significant investments in Chinese technology companies.

Prospects for the future

The active role of the UAE in global initiatives, such as the BIS, and its substantial investments in China demonstrate its strategic vision to foster international cooperation and sustainable development.

The delegation from the United Arab Emirates included prominent officials such as Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, and Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, who signed the agreements alongside their Chinese counterparts.