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Dubai: Trade between Dubai and China, which has been increasing steadily over the past five years, soared 47 per cent to Dh71.2 billion in 2007.
According to Dubai World's Statistics Department figures, non-oil trade between the two countries increased from Dh48.4 billion in 2006 to Dh71.2 billion ($19.4 billion) in 2007.
"China and Dubai have excellent bilateral relations. China is a major trading partner for Dubai and we give high importance to further strengthening the relationship between the two countries. China has succeeded in building a very impressive economic base," said Sultan Ahmad Bin Sulayem, Chairman of Dubai World.
Dubai World is a major investor in China through its projects in Qingdao and Shanghai ports, and is looking to expand.
"The proposed visit to China by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, comes within the scope of furthering cooperation and economic ties between the two countries," Bin Sulayem said.
Figures released by Dubai World's Statistics Department show that non-oil trade between Dubai and China maintained a steady upward trend during the past five years. There was an increase of 37.5 per cent in growth in 2004. In 2005 it was 30.7 per cent and 35.2 per cent in 2006 .
Nassim Al Muhairi, acting head of Statistics Department, said China came second in the list of Dubai's top trading partners in 2007 for the third consecutive year. It topped the list for imports, which touched Dh69.9 billion.
China is Dubai's 12th biggest export destination, with a value of Dh661.2 million.
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