UAE-China Trade Up 10% In 2011

Trade between the UAE and China rose 10 per cent in 2011, from $14.2 billion in 2010 to $15.6 billion last year, according to a study by the UAE Ministry of Foreign Trade.

China maintained its position as the UAE’s second largest trade partner last year, following India.

The UAE’s main imports from China were electronic appliances, radio and audio recording devices, cameras, mechanical tools, and iron and steel products.

Plastics and their products, copper and iron comprised the main exports to the Asian giant, official news agency WAM reported.

Trade between the two nations has increased up to 395 per cent over the last 10 years, from $3.12 billion in 2002, the study added.

The report said that the UAE plans to explore further areas of co-operation with China in sectors such as financing, real estate, construction and foreign trade.

China’s trade links with the entire Middle East have been getting stronger in recent years, with McKinsey forecasting that by 2020, total trade flows between the regions will reach between $350-500 billion.