ABU DHABI: Trends Research and Advisory organised a symposium in cooperation with the China Media Group regional office, entitled “China’s Economy in the prosperity Phase”, at Trends’ conference hall in Abu Dhabi.
Officials, experts and researchers stressed that the UAE-China partnership is an example of international cooperation based on mutual respect and benefit. This partnership is not limited to economic and trade relations, but highlights the paths for innovation and sustainability.
The speakers said that the Belt and Road Initiative reflects China’s commitment to promote international cooperation based on trade and mutual economic growth. These corridors are not just channels for the flow of goods and services, but bridges connecting cultures and providing innovative solutions to the economic and political challenges facing the world today.
The recent accession of the UAE and Saudi Arabia to the BRICS bloc will push the partnership between China and the Arab Gulf countries to more prosperity, and ec
onomic relations between China and the UAE will flourish, as the two sides have a long record of trade partnership. They have a common vision and are driven by similar motives towards multiple international issues.
Dr. Mohammed Abdullah Al-Ali, CEO of Trends Research and Advisory, indicated that studying China’s growth prospects is at the heart of Trends’ research interests, including the opportunities resulting from this growth, both in terms of international trade and global investment flows. This aspect is of particular importance in a world that is currently struggling to recover from the repercussions of successive crises.
Dr. Al-Ali said that China has set an ambitious target for economic growth of about 5% in 2024, which has increased the optimism of major multinational companies about China’s long-term potential.
In the keynote speech, Zhang Yiming, Ambassador of the People’s Republic of China to the UAE, said that the Chinese economy recovered from the Corona epidemic and entered the right track o
f active development.
In 2023, China’s total economic output will reach $18 trillion, with an annual growth rate of 5.2%, and contributing nearly one-third of the global economic growth.
The Chinese Ambassador stated that in 2023, the volume of bilateral trade between the UAE and China amounted to $95 billion.
At the same time joint cooperation in major projects between the two countries is flourishing in all fields. The project to teach Chinese in 200 Emirati schools has become a global project to teach the Chinese language.
The symposium began with a discussion of the theme on the Chinese model of development: opportunities and main features. The second theme discussed the role of media in strengthening China-Gulf relations. The third theme addressed the UAE-China economic relations: growing cooperation and promising prospects. The fourth theme addressed the future trends of Chinese growth and its global impacts.
Source: Emirates News Agency