GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
Memorandum of Understanding to focus on expanding bilateral trade and investment opportunities between UAE and Northeastern Chinese Province  
 
Dubai, United Arab Emirates, March 13, 2018:   Dubai Airport Freezone Authority (DAFZA), one of the UAE's leading free zones, has announced a new strategic partnership with Liaoning Chamber of Commerce UAE. The Memorandum of Understanding (MoU) will increase collaboration between the two organizations to help expand bilateral trade and create new business and investment opportunities with Liaoning province. 
 
The MoU was signed by Nasser Al Madani, Assistant Director General at DAFZA and Yewei Fan, President of Liaoning Chamber of Commerce UAE at a signing ceremony held in the Freezone. 
 
As part of the agreement, DAFZA and Liaoning Chamber of Commerce UAE will hold regular visits and consultations and will encourage opening channels of communications, increasing knowledge and information exchange and maximising mutual support, which will increase investment and business opportunities. Participating at international investment events and conferences will also form another element of the partnership, which will help drive further cooperation.  
 
Commenting on the agreement, Nasser Al Madani said “This is an important strategic partnership that will strengthen our alliance in a number of key areas including technology, innovation, cross-border E-commence, shipping and logistics. DAFZA will support companies referred by Liaoning Chamber of Commerce to exhibit their products and services at the freezone. We will assist them with establishing their business operations and advise them on how to strengthen their offering. This will support our objectives of attracting more foreign investment to Dubai and creating long-term sustainable economic development in the UAE.” 
 
Yewei Fan added: “This MoU will enable us to encourage Chinese investors to set up their businesses at DAFZA across important sectors and industries. This will have a positive impact on growing bilateral trade between Liaoning and the UAE and we look forward to continued association and partnership.” 
 
Two-way trade between the UAE and China crossed $35 billion last year. As such China and the Asian market in general continues to be major focus areas for DAFZA and the UAE.  17% of the number of companies at DAFZA are from Asia, as reported in the 2017 results. 
 
DAFZA targets the Chinese market through a series of campaigns in a number of provinces as Shenzhen and Guangzhou which will start in April this year. The free zone has previously signed an MoU with China (Guangdong) Pilot Free Trade Zone (GDFTZ) – Nansha Area of Guangzhou (Nansha FTZ). 
 
DAFZA recently announced that it achieved a 25% growth in its registered companies in 2017. The freezone contributed 7% of Dubai's non-oil trade, representing 18% of total free zones trade within Dubai according to official statistics. The results marked the success of its ongoing initiatives focused on increasing foreign direct investment into Dubai, supporting the nation's economic diversification and UAE Vision 2021. 



Posted by : GoDubai Editorial Team
Viewed 7857 times
Posted on : Tuesday, March 13, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Cathay Pacific Airways Limited Announces 2017 Annual Results
Next Story : Munich Airport to develop unique, future-focused innovation campus
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
NARS Erdem SS19 Beauty Report
Diana Arno Expands Online Shopping to Middle East
Introducing VK Beauty Lounge & Bar
Introducing Home Fragrance at Robinsons, Dubai Festival City
Defying Age With Skin Republic's Gold and Platinum Face Masks
The Future Is Here
Roberto Cavalli's Exclusive Duo of Fragrances
Lacoste.12.12 Collection
Bring a Touch of Sophistication to Your Home with The Exclusive SmegXDolce&Gabba...
Trevor Sorbie Range Relaunches in the UAE
FOREO To Attend TFWA: the World's Largest Travel Retail Show
Carl F. Bucherer Celebrates Debut of Its Online Boutique on Jd.Com Launch of Lim...
GROHE Smart Home: The App-Controlled Water Security System
Le Meridien Dubai Hotel & Conference Centre's Restaurant Promotions- October
William Collection by Hugo Boss
Honda voted “Preferred Sedan Car Brand of the Year” for the fourth year in a row
Al-Futtaim ACE launches its stylish new Outdoor collection
Al-Futtaim Toyota swoops another win at the Filipino Times Awards
Pamper yourself at Perfumery & Co this month, at The Dubai Mall
Dubai Design Week continues to grow, cementing Dubai as the design capital of t...
O Boticário Opens in Dubai its First Amphora Store outside Brazil Come Join...
Tips & Toes Hits the Big 3-5!
Mousses Etoiles to reveal the latest luxury designs of commercial-use outdoor fu...
Honor Set to Go Beyond Limits With the Launch of Honor 8x
The Mummies of Dubai Give Their Kids a Preppy Style Makeover
Tata Communications launches a specialised cyber security lab at Shanmugha Arts,...
Hyperloop Transportation Technologies, Partners, and Government Stakeholders Mov...
Consonni Wraps Up La Vuelta a Espana With a Seventh Place Finish for UAE Team Em...
Dubai Parks and Resorts Celebrates Saudi National Day
Eberhard & Co. Scafograf 100 For Elegant Lady
Ministry of Human Resources and Emiratisation, Huawei and Honor launch ICT Compe...
New GUESS Handbags for FW18
Akamai Unveils Solutions at IBC 2018 Designed to Mitigate the Challenges and Cos...
du Wins Smart Cities Award at the Telecoms World Middle East 2018
Abu Dhabi wins bid to host 2022 ITU Grand Final in world first
Cadillac XT4 Delivers Dynamic Driving Experience
du Opens New Business Centre in DIFC for Enterprise Customers
Huawei Deepens Cooperation with Duisburg to Transform Germany's Industrial Hear...
Volunteers from the UAE join hands with the community in Tasset Peulh village in...
Sharjah's Recognition as ‘Accessible City for Physically Disabled' Hailed as His...
New Homologations for Pirelli Tyres
The Dubai Business Women Council meets with the UN Assistant Secretary-General t...
Dubai Festival City Mall Celebrates KSA National Day with Special Imagine Show
WWE® Crown Jewel Set for November 2 in Saudi Arabia
Registration for the 5th edition of Camel Trek is now open
New Headmaster for Repton School, Abu Dhabi School's Rose Campus (FS1 to Year 1...
Huawei becomes one of the first multi-national technology companies to register ...
Lenovo Reveals Intelligent Solutions & Partnerships at Transform 2.0
Mobility MEA becomes the first approved Android zero-touch enrollment partner fo...
His Highness Sheikh Ahmed bin Saeed Al Maktoum receives the President and Vice C...