DUBAI, 18th August, 2024 (WAM) -- Dubai Chambers has signed a Memorandum of Understanding (MoU) with China Construction Bank (CCB) - DIFC Branch to promote investment cooperation and strengthen joint efforts to support Chinese companies wishing to expand in the Dubai market.

The MoU is aimed at promoting the exchange of knowledge and expertise between both parties to enhance the support available to businesses and investors. The agreement will contribute to expanding bilateral cooperation, opening new horizons for growth in diverse sectors, and supporting Dubai's position as a leading global business destination.

The signing of the MoU reflects China's growing significance as a global economic centre and coincides with the 40th anniversary of the establishment of diplomatic relations between the UAE and China. The agreement will contribute to advancing trade cooperation between Dubai and China and further enhancing Dubai's position as a preferred destination for Chinese investments.

The MoU was signed by Hassan Al Hashemi, Vice President of International Relations at Dubai Chambers, and Wei Luo, General Manager of China Construction Bank - DIFC Branch, at Dubai Chambers' headquarters. The agreement opens new horizons for diverse cooperation between the two parties that will contribute to promoting the interests of the business communities in both Dubai and China, as well as developing bilateral trade and investment partnerships between Chinese companies and businesses in Dubai.

The signing of the MoU coincides with the upcoming Dubai Business Forum - China, which is organised by Dubai Chambers under the theme 'China, Dubai and Beyond: Igniting Global Trade and Investment' and will take place in Beijing on 21st August. The event aims to attract promising Chinese companies to Dubai and support them in leveraging the regional and global growth opportunities offered by the emirate.