UAE’s Ministry of Economy and Hala China to host first virtual Economic and Trade Digital Expo this July

Hala China is set to organise the first China-UAE Economic and Trade Digital Expo from 15 July to 21 July 2020, in partnership with the China International Exhibition Centre Group Corporation (CIEC). The exhibition is set to explore further economic growth opportunities between both countries during a time of industrial transformation amidst the “new normal”.

With the support of the China Council for the Promotion of International Trade (CCPIT) and the Ministry of Economy of the United Arab Emirates, the expo will include nine sessions that highlight emerging opportunities in Smart Metropolitan and Big Data, Energy-Saving and New Energy Vehicles, Modern Agriculture, Free zone/Finance and Investment, New Building Materials, Textile and Fashion, Education, Healthcare Supply (medical items), and Travel and Tourism, through a series of virtual exhibitions and discussions with keynote speakers.

To reinforce the UAE’s status as a global hub for international trade, the UAE’s Ministry of Economy will highlight the role of local trade organisations in developing strategic partnerships with businesses while also presenting an overview of current projects in the pipeline which can elevate the trade relations between the two countries.

With the UAE and China at the start of a 100-year roadmap to prosperity together, as His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, outlined on a trip to Beijing last year, the two countries’ bilateral ties are deepening thanks to platforms such as Hala China, set-up with the central aim of encouraging further cultural exchanges and strengthening socioeconomic ties that foster opportunities.

To boost sustainable economic growth, China’s government has also accelerated the “New Infrastructure” project in seven high tech fields, such as; 5G networks, high speed rail, Ultra High Voltage (UHV) transmission lines,  new energy vehicles charging piles, Big Data, Artificial Intelligence, Industrial Internet of Things, with an investment of AED 13 trillion complimented with policy incentives, special bonds, public-private partnerships and credit support as reported by South China Morning Post in a recent story. This represents a major opportunity for leading modern infrastructure hubs such as the UAE to offer industry-leading knowledge and skillsets to drive China’s new age urban infrastructure.

Amid the COVID-19 outbreak, China’s State Council issued an approval for the establishment of 46 integrated Pilot Zones for cross-border e-commerce in an attempt to revive foreign trade and investment.

Between January and September of 2019, China’s overall direct investment in the UAE reached AED 2.4 billion, a year-on-year increase of 171 percent, which also accounted for 54 percent of China’s investment in all 22 members of the Arab League, according to data from the Chinese Embassy in the UAE.

Sheikh Majid Al Mualla, Chairman of the Board of Directors at Hala China, said: “China and the UAE are already at the forefront of innovation in the modern world. Organising an exhibition of this scale is testament to the resilient spirit, unity and ingenuity of both nations. As the world works to recover and transition to a new way of life, our bilateral relations with China offer us new and strategic opportunities for mutual growth and cooperation in a post-pandemic world.”

H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary of the UAE’s Ministry of Economy for Foreign Trade Affairs, said: “The relations between the UAE and China are at an all-time high. The joint efforts undertaken by the two friendly countries continue to flourish despite the challenges brought about by the COVID-19 pandemic on world economies. As industries around the world adjust to the new normal, the first China-UAE Economic and Trade Digital Expo will explore economic growth opportunities across an array of vital industries, adding significant value to the efforts to accelerate economic recovery. Furthermore, the virtual Expo will help intensify cultural exchanges, strategic partnerships, and socioeconomic ties that bind the UAE and China.”

As part of the virtual Expo, the UAE-China Trade fair’s Smart Metropolitan exhibition will showcase cutting-edge technology companies and their achievements in applying technology in real world settings as they advance the UAE’s high-tech industry organically. In line with the economic strategies and long-standing bilateral ties between the UAE and China, the exhibition will also livestream a series of lectures and video networking sessions on setting up business in the UAE through the country’s multiple free zones.              

In line with the wider objectives of the UAE Vision 2021, the country is well on track to becoming a global leader in the fields of innovation, research, science and technology, which form the key pillars of a competitive knowledge-based economy. Through its early adoption of e-government and smart city technologies, such as the Internet of Things (IoT), artificial intelligence (AI) and big data analytics, the UAE offers an enhanced quality of life to the global citizens that consider it their home away from home. The seminal UAE-China Economic and Trade Digital Expo will offer insights into these technical competencies while underscoring the transformative impacts of the Fourth Industrial Revolution in the way we live and work. The UAE Strategy for the Fourth Industrial Revolution spotlights several niche fields, such as innovative education, artificial intelligence, intelligent genomic medicine and robotic healthcare.

In recent times, China has shown a pathfinding adaptability to the new virtual conferencing normal. The China-Latin America (Mexico) International Trade Exhibition is testament to the country’s success in digital business migration. Running over a two-week period, the event brought together more than 2,000 exhibitors and contributed to a total turnover of AED 180 million.

The exhibition was hosted online to continue safeguarding public health while aiming to kickstart economic activity.

Through collaborating on such events, Hala China continues to enhance economic and cultural exchange between China and the UAE and drive Chinese tourist and investment inflows into the UAE.