Dubai-China trade rises by 47 percent reaches AED 71.2 billion in 2007

Dubai, March 22nd,2008(WAM)--Trade between Dubai and China, which has been increasing steadily over the past five years, soared to a 47% high in 2007 (a value of AED 22.7 billion - about $6.18 billion). Dubai World's Statistics Department figures showed that there has been an increase in non-oil trade between the two countries from AED 48.4 billion (around $13.18 billion) in 2006 to AED 71.2 billion (around $19.4 billion) in 2007. This reflects a very positive trend in the economic relations between Dubai and China over a growing area investment in different sectors.

Sultan Ahmed bin Sulayem, Chairman, Dubai World, said: 'China and Dubai have excellent bilateral relations. China is a major trading partner for Dubai and we give high importance to further strengthening the relationship between the two countries. China has succeeded in building a very impressive economic base." Dubai World,said Bin Sulayem , is a major investor in China through its projects in Qingdao and Shanghai ports, and is looking to expand into other areas.The proposed visit to China by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, comes within the scope of furthering cooperation and economic ties between the two countries, bin Sulayem added. Figures recently released by Dubai World's Statistics Department show that the non-oil trade between Dubai and China maintained a steady upward trend during the past five years. There was an increase of 37.5% growth in 2004. In 2005 it was 30.7%. The rate of growth was 35.2% in 2006 and 47% in 2007. Nassim Al Mehairi, Acting Head of Statistics Department, said that China came second in the list of Dubai's top trading partners in 2007 for the third consecutive year. It topped of the list for imports, which touched a total value of around AED 69.9 billion. China is twelfth as Dubai's export destination, for a value of around AED 661.2 million. It is also a major re-export market for Dubai, the value reaching around AED 622.3 million.