The UAE and China are also collaborating on the BRI, a significant global infrastructure project initiated by President Xi Jinping in 2013.
The UAE’s active participation in the BRI includes substantial investments and infrastructure development, reinforcing its role as a critical logistics hub.
In the first half of 2023, the UAE’s non-oil trade with BRI countries amounted to $305bn, highlighting the initiative’s economic impact.
Both nations are also working together in the financial sector, evidenced by the renewal of the UAE Central Bank’s currency swap agreement with the People’s Bank of China and the significant investments by Abu Dhabi’s Mubadala Investment Company in Chinese technology ventures.
The UAE’s active role in global initiatives, such as the BRI and its substantial investments in China, signal its strategic vision to foster international cooperation and sustainable development.
The ceremony concluded with both leaders expressing optimism about the strengthened bilateral ties and the potential for future collaborative endeavors.
The UAE delegation included prominent officials such as Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; and Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, who signed the agreements alongside their Chinese counterparts.