UAE and China Strengthen Industry and Energy Ties with New Agreements

UAE, 25 July, 2024 : Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC CEO, visited China to strengthen economic ties. His visit builds on outcomes from President Sheikh Mohamed bin Zayed Al Nahyan's state visit to China in May, celebrating 40 years of diplomatic relations.

During the visit, Dr. Al Jaber met with Chinese officials and CEOs, discussing ways to boost cooperation in oil and gas, petrochemicals, renewable energy, and logistics. Agreements and MoUs were signed, focusing on investment opportunities and strategic partnerships.

Key agreements include the construction of Very Large Ethane Carriers and Ammonia Carriers, and strategic collaborations between ADNOC and Chinese firms like CNPC and CNOOC. Additionally, a feasibility study was announced for a specialty polyolefins complex in China.

China remains a crucial partner for the UAE, with trade reaching $95 billion in 2023, and both countries aim to hit a $200 billion trade target by 2030.

Source : www.zawya.com