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China building largest foreign trading centre in Dubai
Beijing, Apr 07: China`s largest foreign trading centre to showcase and distribute the country`s products to the Middle East region will be opened in Dubai in the second half of the year, an official newspaper reported today.
Beijing, Apr 07: China's largest foreign trading centre to showcase and distribute the country's products to the Middle East region will be opened in Dubai in the second
half of the year, an official newspaper reported today.
The Dubai-based centre will be the largest trading
platform China has ever established overseas, Vice-Minister of Commerce, Wei Jianguo said.
"The distribution centre for Chinese products is a fresh move in local enterprises' strategies to go overseas," Wei was quoted as saying by 'China Daily.' Describing the Centre as a Chinatown of sorts, Wei said the Centre would cost a total of 300 million US dollars and accommodate about 4,000 Chinese companies.
He said the trade centre would foster stronger trade ties between China and the United Arab Emirates.
Bilateral trade between the two countries totalled 5.8 billion US dollars last year, which is expected to reach eight billion dollars this year and 10 billion dollars in 2005, Wei said. But the Centre aims to reach beyond the United Arab Emirates.
"The centre, backed by a good location, will become an expressway for Chinese products in its neighbouring regions," he said.
The UAE, which has a regional position comparable to Hong Hong in Asia, has strong trade links with the Middle East, Africa and East Europe. China's entrepot trade in the Arab nation accounts for seven per cent of China's annual foreign trade, Wei said. Bureau Report
"The distribution centre for Chinese products is a fresh move in local enterprises' strategies to go overseas," Wei was quoted as saying by 'China Daily.' Describing the Centre as a Chinatown of sorts, Wei said the Centre would cost a total of 300 million US dollars and accommodate about 4,000 Chinese companies.
He said the trade centre would foster stronger trade ties between China and the United Arab Emirates.
Bilateral trade between the two countries totalled 5.8 billion US dollars last year, which is expected to reach eight billion dollars this year and 10 billion dollars in 2005, Wei said. But the Centre aims to reach beyond the United Arab Emirates.
"The centre, backed by a good location, will become an expressway for Chinese products in its neighbouring regions," he said.
The UAE, which has a regional position comparable to Hong Hong in Asia, has strong trade links with the Middle East, Africa and East Europe. China's entrepot trade in the Arab nation accounts for seven per cent of China's annual foreign trade, Wei said. Bureau Report