Abu Dhabi, Nov 27th, 2008 : The UAE-China Joint Economic Committee opened its fifth round of talks in Abu Dhabi today with high ranking officials from both side attending the meeting.

Undersecretary of the Ministry of Economy Mohammed Ahmed Bin Abdul Aziz Al Shehhi led the UAE side while Vice Minister of Commerce of China (PRC) Dr. Gao Hucheng led the Chinese side at the talks.

The fifth round of talks draws major importance as it comes against the backdrop of exceptional global economic situations. The meeting is also attended by industry officials, investors and professionals representing economic, trade, financial, educational, tourism, ports and a number of other fields.

The two sides foresee a valuable opportunity lying ahead them to strengthen their partnership in a host of avenues.

Opening the talks Al Shehhi said that the meeting is yet another major step in the march towards strong bilateral relations between United Arab Emirates and the Peoples Republic of China. He noted that the visit paid by Vice President and Prime Minister of UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum to China earlier this year had instilled a new spirit in the UAE-Chinese relations.

Bolstering of partnership with China always takes great importance in the economic agenda of UAE, and during the last few years the economic relations between the two countries have witnessed a steady growth, thanks to the activities of both public and private sectors in the UAE, Al Shehhi noted.

'The non-oil bilateral trade between UAE and China reached worth of USD 13bn during 2007, achieving a 44pc increase over the preceding year. UAE today is the second largest trade partner of China in the Gulf and the largest market for Chinese products in the entire Arab world', Al Shehhi pointed out.

He said that several agreements and MOUs between UAE and China bind the two countries in a strong partnership.

The fifth round of talks will focus on ways for overcoming several impediments in achieving the goals of bilateral agreements and MOUs. (WAM/AB)