Dubai Chambers signs MoU with Bank of China to boost bilateral trade

Thursday, 15 August 2024 14:04

By ARN News Staff

Dubai Chambers has signed a Memorandum of Understanding (MoU) with Bank of China – Dubai Branch - to develop collaboration and enhance cooperation between the business communities in Dubai and China.

The signing of the agreement coincides with the 40th anniversary of the establishment of diplomatic relations between the UAE and China. Trade and investment ties between the two markets have been growing steadily, with Dubai emerging as an increasingly attractive destination for Chinese businesses in all sectors seeking to expand both within the region and globally.

The MoU was signed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and XinYuan Pan, General Manager of Bank of China – Dubai Branch, at Dubai Chambers’ headquarters.

The agreement outlines a framework for enhanced cooperation between the two parties and is aimed at contributing to achieving their shared goals through the exchange of knowledge and services, as well as enhancing mutual support for investors, entrepreneurs, and businesses in Dubai and China to boost the growth of bilateral trade and investments and strengthen economic relations.

The signing comes ahead of the Dubai Business Forum – China, which will be organised by Dubai Chambers and will take place in Beijing on August 21. The event aims to highlight the diverse opportunities available in Dubai for Chinese investors across a wide range of strategic sectors.

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