Dubai, May 3rd, 2008(WAM)-- A 100-member delegation from the Chinese city of HangZhou will visit Dubai to meet with top tier government and business leaders of Dubai at the 'HangZhou-Dubai Economic Cooperation Forum'.
The initiative follows the recent visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to China. Co-hosted by Dubai Chamber of Commerce and Industry, the half-day forum, due to be held on May 5 at the Shangri-la Hotel in Dubai, will be attended by Wang Guoping, Chairman of Hangzhou Municipal Congress, and HE Gao Yushen, ambassador of the People's Republic of China to the UAE. Ahmad Bin Byat, secretary general of Executive Council of Dubai Government will also be present to announce Dubai's interest for closer economic cooperation with HangZhou. Including highly interactive industry specific seminars, the event will serve as an ideal platform for corporate decision-makers to explore investment opportunities and foster long-term trade between HangZhou and Dubai. Located on the Yangtzi River delta area, HangZhou, capital of Zhejiang Province, is one of 15 vice-provincial level cities in China. Considered the cradle of Chinese civilization, it is also one of the important tourism cities famous for its natural beauty as well as historical and cultural heritage. With a per capita GDP of US$ 8,063, it is ranked eighth among 659 Chinese cities. The forum in Dubai will host industry workshops that will be facilitated by senior representatives from HSBC and PricewaterhouseCoopers drawing high level delegates from HangZhou in sectors such as service outsourcing, construction, manufacturing, IT and green townships. Greentown Real Estate Group, Zhejiang Haihua Property, Hangzhou United Bank, Hangzhou Commercial Bank, Dongguan Group, Hangzhou Wahaha Group Co, China Globe Crown Group, Dongguan Group and Dun An Holding Group are among the Chinese companies that will attend the forum. HE Gao Yushen, ambassador of the People's Republic of China to the UAE, said: "From the time China and the UAE established diplomatic relations in 1984, we made significant progress on the economic level as well. While China is now the UAE's second largest import partner, the Hangzhou-Dubai Economic Cooperation Forum will continue to channel the flow of trade between the two destinations, highlighting potential opportunities in various industries. "The economic forum will enable the Chinese delegation to hold exploratory discussions with Dubai's top tier business decision-makers, to pave the way for further economic partnerships."Hisham Abdullah Al Shirawi, 2nd vice chairman of Dubai Chamber of Commerce and Industry, said: "HangZhou is by far one of the most promising economies in the world. Parallels can be drawn between the two rapidly expanding cities in relation to the enormous construction projects currently underway. Like Dubai, HangZhou is an attractive destination for leisure and tourism with potential development prospects across a spectrum of industries. "The forum, therefore, comes as a timely opportunity for seeking new opportunities in the bi-lateral trade. It will specifically help us identify key business leads in the Chinese city to further strengthen our relationship."Al Shirawi stressed the Dubai Chamber's keen interest in supporting such a networking meeting between its members of Dubai businessmen and their counterparts in HangZhou to help each other learn about the new investment opportunities available in both countries, to strengthen commercial ties and, eventually, increase the bilateral trade volumes. Dubai currently serves as the regional headquarters for an estimated 888 Chinese companies, with Chinese investment in the UAE currently standing at AED1.1 billion (US$300 million). While the UAE's total investment in China is now estimated at AED3.7 billion (US$1 billion), various organisations showed keen interest to channel more investments in the Asian giant. The HangZhou-Dubai Economic Forum will run from 9am to 1pm at the Shangri-la Hotel tomorrow. Admission welcomes business visitors with investment interests in China. Visitors under the age of 18 will not be permitted entry.Copyright Emirates News Agency (WAM) 2008.
