Abu Dhabi, July 20 (BNA): Abu Dhabi Ports Group and China Machinery Engineering Group Corporation (CMEC GROUP), a major state-owned and central government-run enterprise in China, recently signed a memorandum of understanding to establish a strategic cooperative relationship.
The MOU outlines how the two companies will explore opportunities globally, particularly in the Middle East, Central Asia, South Asia, Southeast Asia, East Asia, Africa, South America and Europe.
According to the Emirates News Agency (WAM), the two parties will cooperate under the agreement in various fields and sectors, including global industry, infrastructure development, financing, construction, operation and maintenance, the development of global economic cities and free zones, and global logistics.
The MoU will be valid for three years and will focus on realizing complementary benefits, sharing resources, and establishing a long-term strategic cooperation relationship of mutual benefit and trust, to jointly expand the global market.
China is among the largest trading partners of the UAE, with bilateral trade between China and the UAE exceeding US$64 billion during the first eight months of 2022, an increase of approximately 28% over the same period in 2021. In addition, around 6,000 Chinese companies are currently operating in the UAE, with a large Chinese population primarily employed in the infrastructure and energy sectors.
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