Abu Dhabi, Nov 28 (IANS) The United Arab Emirates (UAE) and China started their economic partnership talks here in the backdrop of the global financial crisis and recession, WAM reported Friday.
The meeting, attended by government officials industry leaders investors from both the countries, took stock of the global situation and ways to minimise its impact on their bilateral trade.
The two sides agreed that the present situation offers valuable opportunity for both the country to expand and strengthen their partnership.
Undersecretary of the Ministry of Economy Mohammed Ahmed Bin Abdul Aziz Al Shehhi led the UAE side while Vice Minister of Commerce of China Gao Hucheng led the Chinese side at the talks.
Al Shehhi told the meeting that non-oil trade between the UAE and China reached $13 billion during 2007, achieving a 44 percent increase over the preceding year's volume.
'The UAE is now the second largest trade partner of China in the Gulf and the largest market for Chinese products in the Arab world,' Al Shehhi pointed out.