UAE-China Trade: New Service Centre Launched
- Qingdao, China - The United Arab Emirates and China have inaugurated the Qingdao Overseas Integrated Service Centre (QOISC) at the China-Arab Business Forum.
- The forum, hosted by the Qingdao Municipal People's Government and the CHIMENA Business council, highlighted the growing economic relationship between China and Arab nations, building on trade routes...
- The Qingdao Overseas Integrated Service Centre will play a key role in boosting China-arab trade.
China and the United Arab Emirates are strengthening their economic ties, highlighted by the launch of the Qingdao overseas Integrated Service Center (QOISC). This strategic move aims to boost China-Arab trade, which already surpassed $400 billion. The QOISC, established at the china-Arab Business Forum, is a crucial advancement in fostering greater cooperation, with over 15,500 Chinese firms investing in the UAE. This initiative is also part of China’s broader strategy to diversify partnerships. This development is reported by News Directory 3, emphasizing the growing economic relationship between the two regions. The forum saw the signing of new projects worth billions, expanding into key sectors like new energy and advanced tech. Discover what’s next as this dynamic partnership continues to evolve.
China, UAE Deepen Economic Ties with New Trade Center
Qingdao, China – The United Arab Emirates and China have inaugurated the Qingdao Overseas Integrated Service Centre (QOISC) at the China-Arab Business Forum. The move is designed to strengthen economic partnerships and accelerate the already ample China-Arab trade, wich hit $400 billion.
The forum, hosted by the Qingdao Municipal People’s Government and the CHIMENA Business council, highlighted the growing economic relationship between China and Arab nations, building on trade routes established over 2,000 years ago.
The Qingdao Overseas Integrated Service Centre will play a key role in boosting China-arab trade. SEPCOIII Electric Power Construction Co. Ltd. and Hisense Group established the QOISC as a bridge for increased cooperation.
In 2024, bilateral trade saw Saudi Arabia at $107.53 billion and the UAE at $101.838 billion, a 7.2% year-over-year increase. More than 15,500 Chinese firms have invested over $6 billion in the UAE. The forum attracted 465 multinational companies, including 135 fortune Global 500 firms, under the theme “Innovation-Driven, Mutually Beneficial.” Forty projects worth $5.93 billion were signed, spanning high-end equipment, new energy, new materials, and next-generation IT.
Mohammed Saqib, secretary-general of CHIMENA Business Council, said the QOISC will accelerate the $400 billion trade between the two economic regions. He added that it combines public and private sector strengths to foster economic cooperation, bringing businesses and people closer through trade, tourism, and cultural exchange.
China’s engagement with Arab states is seen as a strategic move to diversify partnerships and reduce reliance on the united States. Chinese companies are increasingly involved in sectors such as energy, infrastructure, manufacturing, and new energy, contributing to the development of trade hubs in the region.
What’s next
The opening of the QOISC signals further collaboration between China and the Arab world, with potential for increased investment and trade in various sectors. The China-Arab trade relationship is expected to continue to grow, fostering economic development and cooperation in both regions.