The Sharjah Chamber of Commerce & Industry, SCCI, has signed a memorandum of understanding (MoU) with the China Council for the Promotion of International Trade in Shanxi Province, as part of the SCCI’s participation in the Shanxi-Middle East Economy and Trade Cooperation Conference, which was held virtually on Monday with the participation of economic organizations and institutions from the UAE and the region.

The agreement stipulates the establishment of a partnership between the two sides and the strengthening of economic cooperation in various fields that serve the common interests to achieve the development goals of the two sides. According to the MoU, the two sides are also committed to exchanging experiences and knowledge, organizing forums, seminars, specialized meetings, and professional training, and exchanging information on best practices applied to serve the interests of the business community in both friendly countries.

The MoU was inked by His Excellency Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce & Industry and HE Li Aishung, Vice President of the China Council for the Promotion of International Trade in Shanxi Province, in the presence of His Excellency Mohammed Ahmed Amin Al Awadi, Director General of SCCI and senior officials from both sides.

“The MoU is a step in the right direction towards prosperous economic partnerships, as part of Sharjah’s keenness to strengthen its diverse relationships at the global level to serve the local business community,” said Abdullah Sultan Al Owais, adding the emirate is always looking to provide all necessary facilities that help attract foreign investment and enhance the competitiveness of companies operating in foreign markets.

Al Owais underlined that the SCCI will spare no effort to upgrade Joint economic relation and stimulate means of communication, dialogue, and cooperation, noting that the number of Chinese companies registered in the Sharjah Chamber of Commerce and Industry reached 1020 enterprises operating in contracting, retail trade, building materials, electronics, and others.

The SCCI Chairman commended the SCCI’s distinguished bilateral relations with Shanxi Province and the mutual visits between the two sides, the last of which was the visit of a high-level business delegation of 18 businessmen, stressing that the agreement marks the outcome of the comprehensive strategic partnership and bilateral cooperation between the two friendly countries and new prospects for joint action in various sectors.

For his part, Li Aishung expressed happiness for cooperation with the Sharjah Chamber to stimulate joint investments, underlining that the MoU will help strengthen the existing ties and establish a new phase of cooperation and trade exchange with Sharjah which was and still have the same attractiveness to Chinese investments in all domains.

He stressed that the economic and trade relations between China and the UAE are witnessing a remarkable development, especially that China attaches special importance to investment in the emirate of Sharjah, thanks to the numerous privileges the emirate provides compared to other markets.