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FINANCIAL NEWS
UAE, China to expand trade, energy relations
04 Dec 2013
(MENAFN) The UAE and China are working out ways to expand cooperation in the fields of new energy resources, high-end technology and service trade, according to a top official of the China Council for the Promotion of International Trade (CCPIT) Guangzhou Committee, China Chamber of the Internal Commerce Guangzhou Chamber of Commerce, Khaleej Times reported.
Bilateral trade between the UAE and China increased by almost 500 percent from USD3.12 billion in 2002 to USD18.3 billion in 2012. From January to June this year, the volume of bilateral cargo trade hit USD21.435 billion, growing 13.68 percent annually. China is the second-largest trade partner of UAE.
In 2012, the value of trade between the UAE and China surpassed USD35 billion for the first time, while 60 percent of China’s total trade passes through the UAE, before it is re-exported west to Africa and Europe. Potential buyers can expect a wide choice of offerings as floor space has grown to accommodate more than 1,000 exhibitors across a range of home products.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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