“At present, there are more than 4,000 Chinese enterprises operating in the UAE with bilateral trade volume totalling $48.55 billion (Dh178.18 billion) in 2015,” report gulf news.
UAE & ChinaIt is expected that business between China and the UAE to get a boost as the UAE granted visa on arrival of Chinese nationals, a diplomat and senior business executives Chinese level Gulf News said.
"It will further promote bilateral cooperation in areas such as aviation, trade and service, bringing more opportunities for bilateral economic cooperation," said Lin Yaduo, charge d'affaires of the Chinese Embassy in Abu Dhabi.
He said the UAE was the second largest trading partner of China and the largest export market in the Middle East and North Africa, and an important trading center for Chinese products.
"Currently, there are over 4,000 Chinese companies operating in the UAE with total bilateral trade volume of $ 48.55 billion (Dh178.18 billion) in 2015," he said.
The main companies operating in the UAE include China Construction, China National Petroleum Corporation and China Harbour.
Chinese banks with offices in the UAE are the Bank of China, Agricultural Bank of China, China Construction Bank and the Industrial Commercial Bank of China. Dragon Mart Dubai has many Chinese companies that sell a variety of products, including machine tools, electronics, clothing and leather products. Installation of visa-on-arrival to Chinese nationals also have an important impact on tourism, Lin said. "Tourism is also an important part of bilateral exchanges of people to people as evidenced by the fact that more than 500,000 Chinese tourists visited the UAE last year," said Yaduo. The first half of this year saw 267,000 Chinese tourists to Dubai, marking a year on year increase of 11 percent.
120 million oversea Chinese tourists in 2015
"However, if we consider that we had more than 120 million outbound Chinese tourists in 2015, it is fair to say that there is still enormous potential for exploration of more Chinese tourists to the UAE," Yaduo said. With good geographic location and rich tourism resources of the UAE with a strong cultural flavor, the decision to grant visa-on-arrival to Chinese nationals will attract Chinese tourists largely to the UAE, he added. Dubai-based Chinese travel agency Tourism Hunter agreed. General manager Michelle Chen said the Chinese passengers transiting through UAE airports would be easy to get a visa and enter the country for scales. "Tourist arrivals from China will double due to the system of visas on arrival. Many people in China will be of great interest to visit the UAE and see the sights," he said. Vishesh Bhatia, CEO of Jumbo Group, said: "Many Chinese tourists used to visit Dubai, but there has been a decline over the past three years and this will change with the relaxation of visa Now Chinese tourists will be encouraged to. visit the UAE as entertainment centers are increasingly important. " initiative belt and road The diplomat said that the UAE is an important strategic partner of China to build the belt and Road Initiative, also known as the New Silk Road.
The initiative of the belt and the road aims to connect the development strategies of the countries along their routes. top business executives in the UAE welcomed the decision by the UAE government to grant visa on arrival of Chinese travelers at airports.
It said the decision will boost trade relations between the two countries and more investment will flow into the UAE from China. "More and more Chinese companies come to the UAE to establish their businesses. It's a good decision by the government," said Tian Jun, general manager of Bank of China in Abu Dhabi.
Boost the Real Estate
The new visa policy is also likely to boost the real estate sector in the UAE. A number of Chinese citizens have already bought properties in Abu Dhabi and Dubai, particularly in Dubai Marina, Downtown Dubai and Akoya said Jun. "It will be easier for Chinese citizens traveling to the UAE to buy property due to the ease of visa-on-arrival. They do not have to go through the hassle of applying for a visa and wait for approval" he added.
"Chinese companies use the UAE as a hub for sending their products to African countries and sold in the market. With the visa process become simple, there will be a growth spurt in this activity."
More options for consumers
More Chinese investorsDavid Wang, CEO of Huawei UAE, said the decision could encourage more Chinese companies, investors and tourists to explore the opportunities available in the UAE. "With its strategic location and rules now loose visa, we expect to see a positive impact on the economy of the UAE, as more Chinese companies, investors and professionals are likely to use the country as a springboard to access other markets of the region, "Wang said.
Jumbo Group Bhatia said more Chinese companies do not threaten companies existing consumer electronics in the UAE, but would offer more choice to consumers.
Dong Hu, country manager Middle East and Africa Alibaba Cloud said: "Many Chinese Internet companies have already made Dubai as their regional base and the new standard will improve more companies to establish bases in the UAE.
"The rulers of the UAE have a clear strategy to UAE as an important center of foreign investment and is bearing fruit.
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