Bilateral trade between Dubai and China reaches Dh36bn in Q1

DP World has restricted staff travel to China in response to the coronavirus outbreak. Bloomberg.

Dubai-China bilateral trade was valued at Dh36 billion in the first quarter of 2019, after reaching Dh139bn in 2018.

Telecoms, phones, personal computers, aluminium, gold, automobiles, and engines topped the list of the most traded commodities between Dubai and China, state news agency Wam reported.

China has been Dubai’s top trading partner since 2014, after the emirate cemented its status as a major regional and global hub for the Chinese market.

A statement released by Dubai Customs in conjunction with the visit of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, noted that there are as many as 876 active Chinese businesses currently registered with Dubai Customs, including 623 firms holding trade licences, 244 licenced free-zone establishments, and nine companies with professional licences.

During Sheikh Mohamed's visit, a Mutual Recognition Agreement between the UAE Federal Customs Authority and the General Administration of Customs of the People's Republic of China was signed for the implementation of the Authorised Economic Operator programme. This is designed to boost the partnership between China and the UAE on the Belt and Road initiative, of which the Emirates is a key partner.

Dubai Customs is already utilising some of China’s state-of-the-art screening and inspection technology to scan containers, goods, vehicles and passengers across its various customs centres in Dubai, including in the Port of Jebel Ali and at the Dubai International Airport.