Sharjah inks MoU with China to boost economic, trade relations

By Rahul Vaimal, Associate Editor
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SCCI-China MoU
Representatives from SCCI participating in the virtual meeting

The Sharjah Chamber of Commerce & Industry (SCCI) has signed a memorandum of understanding (MoU) with the China Council for the Promotion of International Trade in Shanxi Province (CCPIT), as part of the SCCI’s participation in the Shanxi-Middle East Economy and Trade Cooperation Conference.

The agreement helps in the establishment of a partnership between the two sides and the strengthening of economic cooperation in a variety of areas which serve the mutual interests of the two sides to achieve their development objectives.

According to the MoU, the two parties are also committed to the exchange of experiences and knowledge, the arrangement of conferences, workshops, specialized meetings and professional training, and the exchange of best practice information to serve the needs of the business community in the two friendly countries.

Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce & Industry and Li Aishung, Vice President of the China Council for the Promotion of Foreign Trade in Shanxi Province signed the MoU. Both inked the deal in the presence of His Excellency Mohammed Ahmed Amin Al Awadi, Director General of SCCI and other senior officials from both sides.

“The MoU is a step in the right direction towards prosperous economic partnerships, as part of Sharjah’s keenness to strengthen its diverse relationships at the global level to serve the local business community,” said Abdullah Sultan Al Owais, adding that the Emirate is always aiming to provide all the requisite facilities that help attract foreign investment and boost the competitiveness of companies operating in foreign markets.

The Chairman of the SCCI commended the distinguished bilateral ties of the SCCI with the Province of Shanxi and the joint visits between the two sides. He further stressed that the agreement marks the outcome of the two friendly countries’ comprehensive strategic partnership and bilateral cooperation and new opportunities for joint action in various sectors.

Mr. Li Aishung expressed his pleasure in cooperating with the Sharjah Chamber to promote joint investment, emphasizing that the MoU would help in deepening established relations and create a new phase of cooperation and trade with Sharjah.

He highlighted that there is a remarkable growth in the economic and trade ties between China and the UAE. He further added that the emirates provide various privileges compared to other markets, which makes Sharjah a favorite investment destination for China.