A delegation of senior U.A.E representatives met yesterday with Chinese officials in Shanghai at the UAE-China Business and Economic Cooperation Forum to strengthen the economic and social relationship between two of the worlds fastest emerging nations. The forum reaffirmed the good relations that exist between the two countries and underlined the importance of further developing the business and investment ties between the U.A.E and the broader Chinese market.
During the event, Nasser AlShaali, the Chief Executive Officer of the Dubai International Financial Centre (DIFC) Authority, addressed the audience of high level Chinese Government officials and business people and gave his thoughts on the financial industry in the U.A.E and his projections for the future growth and development of the U.A.E’s economy.
Mr. AlShaali is in Shanghai as part of a delegation of influential U.A.E dignitaries and business people led by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai. The delegation is visiting the city to strengthen links and enhance the trade relationship between the two countries and includes many leading decision makers from the U.A.E including Her Excellency Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, and Mr. Salah Al Shamsi, Head of UAE Business Federation.
Commenting on the event, AlShaali said: “As an emerging economy, the U.A.E places great significance in promoting and developing our strong relationships with other countries across the world. In recent times, emerging markets such as the U.A.E and China have been driving global growth and I believe that sustained robust development in these markets will provide the much needed support to help withstand the slowdown in the US and European economies. I am delighted to be part of this significant event to increase mutual understanding and develop business relationships between the U.A.E and China.”
The event aimed to promote cross border transactions and encourage Chinese companies to do business in the U.A.E. In addition, the event was designed to highlight the opportunities available to U.A.E companies wishing to operate in China.
This visit to China reflects the drive of the UAE government to create a progressive, cosmopolitan centre of finance, business and culture.
During the visit, the delegation has had the opportunity to meet Chinese officials and visit successful companies in the region. The delegation have also enjoyed a tour of the business and tourist area’s of Shanghai and attended a seminar on “Doing Business with China”.
About the DIFC
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just three years, over 550 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
