Dubai Chambers has signed two Memorandums of Understanding (MoUs) with major Chinese business associations, the Greater Bay Area Importers and Exporters Association (GBAIEA) and the Guangdong–Hong Kong–Macao Greater Bay Area Entrepreneurs Alliance (GBA Entrepreneurs Alliance). 

The agreements aim to unlock new trade and investment opportunities while strengthening collaboration between Dubai-based companies and their Chinese counterparts in the Greater Bay Area, an Emirates News Agency (WAM) report said.

The MoUs were signed during the Dubai Business Forum – China, which was organised recently by Dubai Chambers in Shenzhen. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, signed the MoU with the GBAIEA alongside Zhao Huazhong, Executive Chairman of the association. The MoU with the GBA Entrepreneurs Alliance was signed by Salem AlShamsi, Executive Vice President of International Relations at Dubai Chambers, and Diana Dai, Executive President of the UAE Chapter of the GBA Entrepreneurs Alliance.

Shared commitment

The agreements reflect a shared commitment to strengthening economic ties between Dubai and China, building on the complementary strengths and capabilities of both economies to increase trade and investment flows and create new opportunities for companies to grow across regional and global markets.

Lootah said: “We are committed to expanding our network of international partnerships, connecting Dubai’s business community with promising opportunities around the world, and enabling companies to build stronger relationships with their counterparts in priority markets. Institutional agreements are an important foundation for private-sector cooperation, supporting knowledge exchange and creating new opportunities to strengthen trade and investment.”—TradeArabia News Service