UAE-China trade exceeds $64 billion in 2022 so far

Bilateral trade between UAE and China has increased by 28 per cent, amounting to $64 billion from January to August 2022, compared to the same period last year.

That's according to Zhang Yiming, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China, in an exclusive interview with Emirates News Agency (WAM).

“China has become the UAE’s largest non-oil trading partner in the world, and the UAE remained China’s second-largest trading partner and the largest export market in the Arab region,” said Yiming.

The ambassador also mentioned that the UAE is a gateway for Chinese enterprises to 'go global' and a popular destination for Chinese tourist, highlighting the UAE’s role as a major hub of the Belt and Road Initiative and a regional aviation, transportation and financial centre.

Yiming also hopes that the two sides will strengthen cooperation in investments, currency exchanges, and digital Chinese currency (RMB), and play a vital role in promoting cooperation in new energy, biomedicine and high-tech innovation enterprises.

Science and Technology

Zhang Yiming said cooperation between China and the UAE in science and technology has drawn close attention of the international community.

“The two countries made a series of ‘firsts' in the world: they jointly conducted the world's first phase-3 clinical trial of COVID-19 inactivated vaccine, initiated the first COVID-19 vaccine production line, built a Hayat-Vax vaccine production plant with an annual production capacity of 200 million doses, and approved a second-generation recombinant protein COVID-19 vaccine for emergency use,” he pointed out.

Two months ago, the ambassador presented the Chinese Government Friendship Award to Dr. Nawal Al Kaabi, a paediatrician and infectious disease consultant and the Chair of the SEHA infectious diseases and infection Control council. “As a leader and chief clinical expert in China-UAE vaccine cooperation, Dr. Al Kaabi is the first Emirati friend to receive this honour,” the envoy emphasised.

Recently, the aerospace authorities of China and the UAE signed a memorandum of understanding (MoU) on the mission of the lunar rover named Rashid, which has become the most-searched news on social media in China, he said.

“There will be a series of space cooperation in the future. Our high-tech cooperation in artificial intelligence, 5G telecommunication and genetic technology are making good progress.”

Cooperation in aviation, tourism

Air connectivity and tourist traffic between both countries are growing after the pandemic, according to Yiming.

“At present, the number of direct flights between China and UAE has increased significantly, from one to two flights per week at the peak of the pandemic, to 26 flights per week now, and the frequency will continue to increase.”

He also explained that it is undeniable that tourism and people-to-people exchanges between the two countries have been affected by COVID-19, but thanks to the joint efforts of the Chinese and UAE governments, Etihad Airways became the first international airline to resume direct flights to the three major cities of Beijing, Shanghai, and Guangzhou.

The diplomat also pointed out that before the pandemic, the number of Chinese tourists ranked fourth among international tourists visiting the UAE, and they ranked first among the top spenders.

“As the UAE is about to enter its peak tourist season from November, I believe that Chinese tourists will come soon in large numbers and tourism will become a new driving force for both countries. UAE friends are welcome to visit China to travel and enjoy the hospitality of the Chinese people,” the ambassador added.