Agreement signed during Chinese President’s recent state visit to the UAE
A strategic partnership and mutual promotion mechanism was established as Etihad Aviation Group (EAG) CEO Tony Douglas and Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC) Chairman Luo Hua inked a Memorandum of Understanding (MoU) during Chinese President Xi Jinping’s recent official visit to the United Arab Emirates.
The parties plan to cooperate on a wide range of areas in order to better support the development of the China-UAE Industrial Capacity Cooperation Demonstration Park (China-UAE Industrial Park) in Khalifa Port, Abu Dhabi, including air logistics, procurement, mutual promotion on respective premises and digital channels.
“The partnership will strengthen the position of Abu Dhabi as an aviation hub to connect China with the economies along the Belt & Road Initiative by leveraging our strong global network,” Tony Douglas, Etihad Aviation Group Chief Executive Officer.
“The China-UAE Industrial Capacity Cooperation Demonstration Park is a major project under the Belt and Road Initiative. It represents an important consensus reached by the leadership of China and the UAE to strengthen international industrial capacity cooperation between the two countries,” commented Luo Hua, Chairman, JOCIC.
Established in July 2017, with a 50-year agreement signed between Abu Dhabi Ports and JOCIC, the China-UAE Industrial Park has successfully achieved investment agreements with 16 Chinese companies, totaling USD$1bn in value.
The Chinese companies investing in the Industrial Park come from various sectors, including new energy sources, aluminum processing, machinery manufacturing, trade and logistics, metallurgy, building materials, chemicals, packaging, and food and beverages.
