Dubai Chambers and the Dubai branch of the Bank of China have signed a memorandum of understanding (MoU) aimed at enhancing collaboration between the business communities in Dubai and China. Announced on 20 August 2024 by Dubai Chambers, the MoU establishes a framework for increased cooperation between the two entities, focusing on boosting trade and investment opportunities. This partnership also aims to promote bilateral trade and investment between the client companies in both markets.
The agreement is part of broader efforts to strengthen economic ties between the UAE and China, with the goal of increasing bilateral trade from approximately US$95 billion in 2023 to US$200 billion by 2030. Dubai has become a key hub for Chinese firms looking to expand their presence in the Gulf region and beyond into international markets.
