Ministry of Economy leads Global Trade Development Week team to China

The Global Trade Development Week (GTDW) team led by Ms. Ayesha Alkobaisi, Director of International Trade Organisations at the UAE Ministry of Economy and Project Director for GTDW, yesterday participated in a press conference to announce an agreement between GTDW and China New Silk Road Investment Association (CNSRIA).

In the agreement, CNSRIA has pledged to promote Global Trade Development Week to the Chinese government and enterprises and to strengthen trade relations between the UAE and China.

The GTDW team, joined by H.E. Badir A. Al Musharrekh, UAE’s Commercial Attaché in China also attended the 19th Investment and Trade Forum for Cooperation between East & West China and the Silk Road International Expo and high-level bilateral meetings with the Chinese government and business owners.

Explaining the trade relationship between UAE and China, Ms. Alkobaisi said, “Last year, The UAE and China celebrated the 30th anniversary of diplomatic relations; Today’s announcement is another step forward in strengthening trade cooperation between our two countries. The bilateral economic relations between UAE and China are witnessing rapid progress due to the various developments in economic activities, including the gradual increase in the investments and the noticeable growing trade volumes. The people’s republic of China maintained its status as the UAE’s second largest trading partner with trade volume reaching 54.8 billion USD in 2014”.

Secretary General of the China New Silk Road Investment Association, Shi Yao Hua, said, “The New Silk Road initiative was launched by Chinese President Xi Jinping in 2013, by forming this partnership with Global Trade Development Week, we are taking a significant step of sharing his vision and turning it into reality. A major aim of the Silk Road initiative is to boost our political ties and also reduce barriers to trade and investment – by connecting with the audiences at GTDW and also by encouraging Chinese businesses to attend this major annual event we hope to make progress towards achieving these aims”.

The “Belt and Road” initiative, short for the Silk Road Economic Belt and the 21st Century Maritime Silk Road has attracted worldwide attention and aims to connect Asia, Europe and African countries through growing trade, investments and by improving transport infrastructure. It covers more than 60 countries along the ancient silk route with a total population of 4.4 billion and US$21 trillion GDP.

Organised in partnership with UAE Ministry of Economy, GTDW is a high-level gathering of 1000 VIP trade leaders from government and the private sector coming to Dubai from over 100 countries. H.E. Saeed bin Sultan Al Mansoori will deliver the opening keynote speech, followed by 150 speakers representing the most influential leaders driving world trade today.

Andrew Keable, Co-Chief Executive Officer of KW Group, the organisers of GTDW, signed the agreement for the partnership with China New Silk Road Investment Association and its Dubai office, Silk Road Associates DMCC. Andrew Keable said “GTDW has direct synergy with The New Silk Road in creating bilateral, regional and multilateral dialogue, as well as increasing the knowledge and capabilities that allow government and private sector leaders to deliver growth in international trade. This agreement presents a great opportunity for Chinese trade, investment and enterprises to connect with key figures driving international trade coming to GTDW from across the globe in Dubai. We are delighted that this strategic partnership with the China Silk Road Investment Association promotes GTDW to the world’s largest economy, China”.

The press conference was attended by over 200 Chinese officials and investors from different fields, along with local media, was organised as part of the 19th Investment & Trade Forum Between China East and West & The Silk Road International Expo being held in Xi’an, China this May.

GTDW will be held in Dubai from 27th-29th October and is the world largest trade facilitation event and features a series of specialized trade summits that link key sectors across international trade; including business, banking, customs, corporate real estate, infrastructure, specialized economic zones, supply chain logistics and transport.