Dubai Wholesale City, an international incorporated wholesale trading center as well as member of TECOM Group, has signed a Memorandum of Understanding (MoU) with Ningxia province of People's Republic of China to enhance mutual collaboration and promote economic, trade and investment relations.

Chief Executive Officer of Dubai Wholesale City, Abdulla Belhoul and also Governor of the Ningxia district, Wang Heshan, signed the contract in the presence of Division of Business reps and global relationships authorities from the Ningxia district, along with other elderly government officials from the two sides.

The tactical arrangement will certainly aid promote financial investment chances and also profession cooperation in between both sides. It will certainly likewise enable Ningxia to take advantage of Dubai's strategic area as a worldwide center, to access to different global markets worldwide. The agreement will certainly also encourage shared financial investment collaboration through presenting traders and also financiers, to the possible benefits as well as chances of joint investment projects.

Furthermore the contract will advertise communication between financiers and also business people in both countries through the exchange of info, delegation visits, and through activities like conferences, trade fairs, and bilateral meetings.

Speaking on the brand-new collaboration, Abdulla Belhoul claimed that Dubai Wholesale City delights in to announce this strategic contract with the Ningxia district of individuals's Republic of China, "Through this collaboration, we will certainly boost our efforts to sustain our trading market and enhance our connections with the Ningxia region that is a vital trading partner for the UAE. Yinchuan, the funding of Ningxia, is strategically vital to China's One Belt One Road campaign that plays an extremely substantial duty in enhancing financial ties with Asia and the Center East."

He included: "The Ningxia government has actually particularly put in substantial initiative in the direction of global financial investment collaboration, with the support from the Chinese federal government. Especially, these efforts have attracted significant engagement from economic sector business throughout the globe. We see significant profession as well as investments chances for future collaborations as well as are confident that both celebrations will highly benefit via this collaboration."

For his component, Wang Heshan, Governor of the Ningxia district claimed that Dubai Wholesale City's distinct value proposition as a wholesale hub of selection provides a competitive as well as eye-catching investment chance and is a key factor in advancing with the collaboration. He included that Dubai's position as the Center East as well as Africa area's leading hub for re-export, will certainly permit trading entities within Ningxia to step-up their operations as well as venture into new markets.

The visiting delegation from Dubai Wholesale City met agents of greater than 300 major institutions, companies as well as capitalists in the Ningxia district. They informed the Chinese companies and also capitalists regarding Dubai's leading role in the field of Islamic business economics as well as explored opportunities of Dubai Wholesale City and the Ningxia district collectively creating the Halal food field.

The strategic contract comes with a time when the balance of trade quantities between Dubai as well as China for the initial half 2016 exceeds US$ 20 billion. As a result of this surge in trading activity, China has become the biggest trading companion for Dubai - with the UAE working as a portal to around 60 percent of China's exports to the GCC area. Relationships in between China and Dubai have actually likewise enhanced complying with the UAE's unavoidable plans to issue traveling visas on arrival to Chinese citizens.

To aid enhance trade and tourism, Emirates Airlines recently revealed a four once a week trip to Yinchuan. As a funding of Ningxia, Yinchuan, serves as a portal connecting China to Arab nations, and is positioned as a center for economic as well as profession cooperation as well as cultural exchange between China and the Middle East.