A NEW DAWN IN THE MULTIFACETED ECONOMIC RELATIONSHIP
UAE-CHINA STRATEGIC PARTNERSHIP
China’s capacity to invest has drawn significant attention from the Middle East. The world's second-largest economy is now acknowledged as a crucial agent across the GCC for development support and direct investment. China is also the biggest global importer of crude oil, with almost half of its supplies coming from the Middle East. China has become an increasingly significant player in the Middle East in the last decade, especially since the announcement multi-billion dollar Belt and Road Initiative (BRI) – China’s global development strategy revolving around infrastructure development and investment. Trade between the UAE and China is expected to exceed $70 billion (AED 257.46 billion) by the end of 2020. The two nations signed $3.4 billion dollars-worth deals as a part of China’s BRI in 2019. The agreement includes massive infrastructure projects that involve building roads, railways, and shipping lines between China and the UAE.