Dubai Week in China: Shanghai – an event highlighting how Dubai is a global gateway for economic development and cultural exchange – began today with the signing of an agreement to increase trade and investment cooperation between the twin cities.

Demonstrating the strengthening of ties, the memorandum of understanding (MoU) between Dubai Investment Development Agency (Dubai FDI) and Invest Shanghai set the tone for the event initiated by Falcon and Associates, co-hosted by Invest Shanghai and supported by the Shanghai Municipal Commission of Commerce (SMCC).

His Excellency Abdulla Al Saleh, Under Secretary of the UAE Ministry of Economy for Foreign Trade and Industry Affairs; Mr Hanmin Zhou, Vice President, Shanghai Municipal People’s Political Consultative Conference; and Miss Liu Min, Vice Chairwoman, SMCC, opened the event that aims to build on the success of the inaugural Dubai Week in China in Beijing last year, celebrate the thriving relationship and create connections for future mutual growth.

“Dubai Week in China: Shanghai signals the importance the UAE places on our strategic partnership with China and that we are committed to collaborating on new opportunities and enhancing economic and cultural bonds between our two great nations,” said His Excellency, addressing more than 250 Chinese government officials, business and thought leaders, entrepreneurs and investors. “Strategically located at the crossroads of East and West – with a network of air, sea and road links which enable seamless connectivity with the world – the UAE is a global hub for trade, travel, finance and investment and a perfect partner for China and the Belt and Road Initiative.”

“China and the UAE share an energy and drive and the relationship is going from strength to strength,” said Mr Zhou. “This event is a tremendous opportunity for business leaders from Shanghai and Dubai to foster friendships, gain greater levels of mutual understanding and discuss new opportunities which will bring us closer together and further strengthen economic and cultural ties.”

“The Shanghai-Dubai relationship is flourishing and the increased cooperation between us is creating greater opportunities for cultural understanding and exchange which in turn is helping unlock economic growth,” said Miss Min. “With our two cities sharing a similar vision of a future built on innovation, finance, shipping and trade, there is tremendous potential to enter meaningful dialogue in the pursuit of common goals.”

A series of high-level panel discussions featured senior figures from Dubai’s leading entities. Strategic Partner Expo 2020 Dubai was represented by Manal AlBayat, Vice President of Engagement and Gillian Hamburger, Vice President of Commercial, while spokespersons from Official Partners included: His Excellency Hisham Al Shirawi, Vice Chairman, Dubai Chamber; Arif Amiri, CEO, DIFC; Gautam Sashittal, CEO, DMCC; Issam Kazim, CEO, DCTCM; Khalid Al Marzooqi, Head of Asia Pacific, Jafza; and Graham Kiy, Regional Vice President, Greater China, and General Manager Jumeirah Nanjing, Jumeirah Group.

Commenting on the MoU signing, Fahad Al Gergawi, CEO, Dubai FDI, said: “As Dubai’s number one trading partner since 2014, the relationship with China is built on solid foundations. We look forward to working in partnership with Invest Shanghai to help facilitate mutually beneficial investments and take our levels of economic exchange and cultural understanding to new levels through opening more doors and creating more opportunities for Chinese companies to use Dubai as a platform for growth and expansion.”

“Dubai is a city of opportunity with a diverse and robust economy,” said Luo Zhisong  Director, Invest Shanghai. “Ties are already strong – 4200 Chinese companies operate in the UAE – and Chinese investment in Dubai is already significant across a number of sectors. As both cities and their economies continue to expand, there is great potential and we look forward to working with Dubai FDI to help increase levels of collaboration in shared areas of strength such finance, shipping and trade.”

Also represented in the Dubai delegation at the event staged across The Langham Hotel and The House in the bustling Xintiandi district, were Supporting Partners Dubai Duty Free, DIFC Courts, Emirates and KHDA, while Dubai Sports Council, Emirates Academy of Hospitality Management and Emirates Aviation University are also participating.