Li calls for high-quality BRI bond with UAE

Premier Li Qiang has wrapped up his official visit to the United Arab Emirates, where he highlighted the Gulf state's role in China's Middle East diplomacy and called for opening up new opportunities for bilateral cooperation.

Li returned to Beijing on Friday after the four-day regional tour, which also brought him to Saudi Arabia.

When addressing the UAE-China Business Forum in Dubai on Thursday, Li said that relations between the two countries stand at a historic juncture, while economic and trade cooperation is facing crucial opportunities for upgrading.

More than 200 representatives from the governments, chambers of commerce and businesses from both countries attended the forum.

The premier called on enterprises from the two countries to seize new opportunities for high-quality Belt and Road cooperation, and enhance cooperation in areas such as connectivity, infrastructure and financing to promote their deeper integration into global industrial and supply chains.

Li also urged the enterprises to identify more areas of shared interest and opportunity for cooperation from the intersection of their strategic priorities, and deepen cooperation in trade, new energy, tourism and other sectors.

Cooperation in cutting-edge fields such as advanced manufacturing, the digital economy and artificial intelligence should also be emphasized to jointly seize future development opportunities, he added.

China welcomes more enterprises from the UAE to invest in the country, Li said, adding that he believes that with the joint efforts of entrepreneurs from both sides, bilateral trade cooperation will continue to thrive.

UAE investment in China grew 120 percent in 2023, representing 90 percent of all Arab investment in China, said Chinese Ambassador to the UAE Zhang Yiming.

China's investment in the country has been growing by more than 16 percent annually, reaching $1.3 billion in 2023 and accounting for 60 percent of China's total investment in Arab countries.

In the Middle East, the UAE is China's second-largest trading partner, largest export market and the third-largest market for Chinese engineering projects.

On Thursday, Li also held talks with UAE Vice-President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum.

This year marks the 40th anniversary of the establishment of diplomatic relations between China and the UAE.

The two countries signed more than 130 bilateral agreements and memorandums of understanding over the past four decades. And in 2018, the two countries upgraded their ties to a comprehensive strategic partnership.

China has long placed the UAE as a priority in its Middle East diplomacy, and stands ready to work with the country to firmly support each other and consolidate the political foundation of bilateral ties, Li said.

He stressed that China and the UAE are good partners on the path of common development, and it is in the fundamental interests of both sides to strengthen cooperation and help each other succeed.

A mutual visa exemption arrangement between the two countries came into effect on Jan 16, 2018, making the UAE the first country in the Middle East to achieve full visa exemption status with China.