In a significant move to bolster economic ties, Dubai Chambers has formalised two memoranda of understanding with key organisations in China, namely the Greater Bay Area Import and Export Association and the Entrepreneur Alliance of the Guangdong-Hong Kong-Macao Greater Bay Area. These agreements aim to expand avenues for commercial and investment collaboration while fostering partnerships between businesses in Dubai and those in the Greater Bay Area.
The memoranda were signed during the recent Dubai Business Forum – China, held in the city of Shenzhen. Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, signed the agreement with Zao Huazhong, Executive Chairman of the Greater Bay Area Import and Export Association. Meanwhile, Salem Al Shamsi, Deputy Chief Executive Officer of International Relations at Dubai Chambers, signed the other memorandum with Diana Dai, Chief Executive of the Entrepreneur Alliance’s UAE chapter.
Strengthening Economic Links
These partnerships highlight a shared commitment to enhancing economic connections between Dubai and China, leveraging the competitive advantages of both regions to support trade and investment flows. The agreements are poised to open wider opportunities for companies in both areas to tap into promising prospects in regional and global markets.
Building International Partnerships
Mohammed Ali Rashid Lootah emphasised the importance of expanding the network of international partnerships that connects Dubai’s business community with lucrative opportunities worldwide. He stated, “We are keen to expand the network of international partnerships that reinforces the ties of the business community in Dubai with promising opportunities globally and supports companies in building more effective relations with peers in priority markets.”
He further added, “Institutional agreements are an essential pillar for developing cooperation between the private sector, facilitating knowledge exchange, and exploring new opportunities that contribute to the growth of trade and investment.”