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Lubna Al Qasimi participates in inauguration of Chinese Exports Fair

posted on 16/04/2007: 671 views

Guangzhou-China - Economy Minister, Sheikha Lubna Al Qasimi, yesterday led more than 70 UAE businessmen and businesswomen to take part in the inaugural ceremony of the 101th Chinese International Exports Fair.

UAE Ambassador to China, Mohammed Rashid Al Bout, was also present at the ceremony.

In a keynote address, Sheikha Lubna said the UAE had now become one of the most significant and strong economies in the Middle East, adding that the UAE economy boasts of a promising future.

She pointed out that the UAE, over the past years, had adopted an economic strategy that depends on diversification of its economy.

She said the non-oil sector now contributes about 62.5%, adding that trade volume between the UAE and China witnessed last year a significant growth of 31.5% to stand at US$14.2 billion, making the UAE China's second biggest trade partner in the Gulf region.

She expressed optimism on the high possibility of boosting economic and trade ties between the UAE and China in the few years ahead. "The economies of the UAE and China are recording the fastest growth in the world. Each of the two economies is capable of complementing the other," she said. "Being the biggest and most strategic trade centre in region, Chinese goods and services can reach new markets worldwide through the UAE," she added.

She noted that the UAE's participation in the fair is one of the biggest and most proactive. "This reflects the UAE's commitment to boost economic, trade and investment relations with China," she said.

Meanwhile, Sheikha Lubna held here yesterday a meeting with the Chinese Deputy Trade Minister, Gao Hua Shing and discussed with him economic ties between the UAE and China and ways to boost them in all fields. They also discussed how best to get the private sector to make generous contributions towards the achievement of economic partnership between the two countries. (Emirates News Agency, WAM)


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