UAE-China trade to reach 8 billion dollars by end of 2004

The trade volume between the United Arab Emirates (UAE) and China is expected to reach 8 billion US dollars by the end of this year, local Khaleej Times daily reported Thursday.

At the UAE-China Forum on Enhancing Trade and Investment Cooperation held Wednesday in Dubai, UAE's commercial city, officials announced the bilateral trade stood at 6.4 billion dollars in the first 10 months of this year, compared with 5.8 billion dollars in 2003.

The figure is expected to swell to 10 billion dollars by the end of the next year, officials estimated.

A high-level Chinese trade delegation headed by Deputy Commerce Minister Wei Jianguo, which consisted of 120 officials and businessmen, participated in the forum, which focused on IT, telecommunication, pharmaceutical, civil engineering and construction, petrochemical industry, logistics, manufacturing and trade.

The forum is aimed at highlighting the facilities and investment opportunities between the UAE and China.

Since the establishment of diplomatic ties between China and the UAE, bilateral economic and trade cooperation maintains a good momentum and new vitality is continually injected into the progress of Sino-UAE relationships, Wei stressed at the forum.