Dubai Wholesale City signs MoU with Ningxia province of China

DUBAI, — To enhance mutual collaboration and promote economic, trade and investment relations, Dubai Wholesale City, a member of TECOM Group, has signed a Memorandum of Understanding (MoU) with Ningxia province of China.

Chief Executive Officer of Dubai Wholesale City, Abdulla Belhoul and Governor of the Ningxia province, Wang Heshan, signed the MoU in the presence of Department of Commerce representatives and international relations officials from the Ningxia province, in addition to other senior government officials from the two sides.

The visiting delegation from Dubai Wholesale City met with representatives of more than 300 major institutions, companies and investors. They briefed the Chinese companies and investors about Dubai’s leading role in Islamic economics and explored possibilities for jointly developing the Halal food sector.

The strategic agreement will help promote investment opportunities and trade cooperation between the two sides. It will also enable Ningxia to leverage Dubai’s strategic location as a global hub, to gain access to various international markets around the world. It will also encourage mutual investment cooperation through introducing traders and investors, to the potential benefits and opportunities of joint investment projects.

Speaking on the new partnership, Abdulla Belhoul said, “Through this collaboration, we will enhance our efforts to support our trading industry and strengthen our ties with the Ningxia region that is a key trading partner for the UAE. Yinchuan, the capital of Ningxia, is strategically important to China’s One Belt One Road initiative that plays a highly significant role in strengthening economic ties with Asia and the Middle East.”

Wang Heshan, Governor of the Ningxia province said that Dubai Wholesale City offers a competitive and attractive investment opportunity and is a key factor in forging ahead with the partnership. He added that Dubai’s position as the Middle East and Africa region’s foremost hub for re-export, will allow trading entities within Ningxia to step-up their operations and foray into new markets.

Source: Emirates News Agency