Agreements strengthen China-UAE ties

Sheikh Mohammed was in Beijing on Monday, as part of an official three day tour, to oversee the signing of agreements with Chinese Vice President Li Yuanchao in areas such as energy, economics, space cooperation, higher education, and clean technologies.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, looks on as Khaldoon Al Mubarak, chief executive of Mubadala Development Company and Chairman of the Abu Dhabi Executive Affairs Authority, greets Chinese vice president Li Yuanchao at the Great Hall of the People in Beijing on Monday. Mohamed Al Hammadi / Crown Prince Court – Abu DhabiShow less

The state visit to China by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, has resulted in the signing of several agreements between the two countries in a range of areas.

Sheikh Mohammed was in Beijing on Monday as part of his three-day tour to oversee the signing of agreements with Chinese vice president Li Yuanchao in areas covering energy, economics, space cooperation, higher education and clean technologies, the state news agency Wam reported.

“Your third visit to China reflects your interest in the partnership between the two countries. We welcome this visit to further enhance our strategic relations,” Mr Li told Sheikh Mohammed at the start of their meeting.

“We take interest in the developing of bilateral relations, and your visit will add more vitality to the relations between the two friendly countries. It represents a step forward to strengthening cooperation and the economic partnership.”

Sheikh Mohammed said that he was pleased to visit China, which enjoys cultural diversity and a prosperous and thriving economy. He emphasised that the UAE, under the leadership of Sheikh Khalifa, harboured a deep respect and regard for the leadership and people of China.

The Crown Prince lauded the vision of the Chinese president, Xi Jinping, and his initiatives to catapult China into a new era of development and stability.

He said he was looking forward to solidifying joint cooperation in future, affirming the UAE’s interest in opening new prospects for investment in China and in contributing to various present and future developmental initiatives and plans, notably to the One Belt, One Road Initiative.

“Despite the significant growth of bilateral ties in the recent period, there are still promising prospects awaiting them, opportunities before them and wide scopes to support and develop them in many vital areas,” Sheikh Mohammed said.

Fresh from the signing of the Paris climate accord, Abu Dhabi-based renewable energy company Masdar, led by chairman Dr Sultan Al Jaber, signed an agreement with Chinese real estate ­giant Vanke. The two agreed to explore opportunities for cooperation in real estate development and renewable energy.

Dr Ahmad Belhoul, Masdar’s chief executive, said the agreement would help expand its economic relations with China and in the country’s business sector.

“International partnerships are key to the diversification of energy sources and to enhancing innovations that will deliver renewable technologies both for the UAE, the Middle East region and for China,” he said.

“This MOU and future potential collaborations represent significant steps in our two countries’ missions to secure long-term energy security and sustainable development.”

Vanke chairman Wang Shi said he valued the partnership with Masdar and UAE companies “because they bring a unique set of knowledge and expertise to this global innovation effort”.

Minister of State Dr Al Jaber signed an agreement with president Wang Yilin of the China National Petroleum Corporation for cooperation in oil exploration and production.

The agreement allows for potential partnerships in the oil and gas sector outside the UAE, as well as projects involving liquefied natural gas fields.

In addition, a currency exchange agreement between the UAE Central Bank and the People’s Bank of China (PBOC) was signed by Mubarak Al Mansouri, Central Bank Governor, and the PBOC deputy governor.

The Government also announced that the countries would increase cooperation in space research “and the peaceful use of outer space”, Wam said.

A memorandum between the UAE Space Agency and the China National Space Administration includes the development of a satellite for scientific experiments with communications, launch services, follow-up and satellite control, and operation and management in orbit.

In higher education, the Minister of State for Foreign Affairs, Dr Anwar Gargash, signed an agreement with his Chinese counterpart for greater cooperation between the two states.

It called for collaboration in scientific education, the granting of university scholarships and the exchange of faculty members.

A separate agreement for research cooperation was signed between Masdar Institute and Tsinghua University in Beijing.

Agreements were also signed to standardise trade practices and for the mutual recognition of driver’s licences.

The UAE is China’s largest trading partner in the Middle East, with trade expected to reach as much as US$60 billion (Dh220bn) this year.