Dubai Chambers has signed a Memorandum of Understanding (MoU) with the Industrial and Commercial Bank of China (ICBC) – Dubai (DIFC) Branch to enhance UAE-China cooperation.
H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Mr. Wei Luo, General Manager of the Industrial and Commercial Bank of China Limited – Dubai (DIFC) Branch signed the MoU at Dubai Chambers’ headquarters.
Under the agreement, Dubai Chambers will assist the bank’s customers in setting up their businesses in Dubai. The partnership seeks to strengthen cooperation and enhance bilateral trade and investment by supporting the interests of the business communities in Dubai and China.
The signing of the MoU comes ahead of Dubai Chamber’s ‘Dubai Business Forum – China’, which will take place in Beijing on August 21 under the theme ‘China, Dubai and Beyond: Igniting Global Trade and Investment’.
Public and private sector partners from Dubai and China are expected to be present. The event aims to bolster cooperation, enhance bilateral relations, and accelerate the pace towards achieving the goals of the Dubai Economic Agenda (D33).
With three offices in Shanghai, Shenzhen, and Hong Kong, the Dubai International Chamber plays a significant role in boosting trade and investments between China and Dubai, expanding Dubai-based companies into the Chinese market.
The UAE-China relations have been flourishing for the past few years. With collaboration spanning across various sectors, including logistics, transportation, industry, technology, artificial intelligence, renewable energy, and food security, the UAE is the largest incubator for Chinese businesses in the Middle East. Around 6,591 Chinese brands are registered in the UAE.
