AGSIW | Diversified Investment in #UAE Shaping China’s Economic Role in the Gulf

AGSIW | Diversified Investment in UAE Shaping China’s Economic Role in the Gulf:

Abu Dhabi Crown Prince Mohammed bin Zayed al-Nahyan’s three-day state visit to Beijing reaffirmed the United Arab Emirate’s central role in shaping China’s economic influence in the Gulf. The UAE-China Economic Forum, which the UAE Ministry of Economy organized to take place alongside the state visit, led to the signing of 16 memorandums of understanding. Mohamed Alabbar, the forum’s guest of honor and chairman of the Dubai-based Emaar Properties, announced that his firm will implement an $11 billion project with the Beijing Daxing International Airport over the next 10 years. The Abu Dhabi National Oil Company and the China National Offshore Oil Corporation agreed to boost collaboration on upstream, downstream, and liquefied natural gas activities. This flurry of commercial agreements came three months after Mohammed bin Rashid al-Maktoum, the UAE’s vice president and prime minister as well as ruler of Dubai, traveled to Beijing, where he led an Emirati delegation at the Second Belt and Road Conference for International Cooperation.