Non-oil trade with China grew by 47% in 2007

Dubai-Chinese trade in non-oil products set a new record in 2007, increasing by nearly 50% over 2006.

According to statistics released by government conglomerate Dubai World, non-oil trade between the two countries increased from Dhs48.4bn (around US$13.18bn) in 2006 to Dhs71.2bn (around $19.4bn) in 2007.

Sultan Ahmed bin Sulayem, chairman of Dubai World, comments: "China and Dubai have excellent bilateral relations. China is a major trading partner for Dubai and we give high importance to further strengthening the relationship between the two countries. China has succeeded in building a very impressive economic base."

Trade between Dubai and China has been expanding steadily over the last five years, according to the Dubai World statistics department, increasing each year since 2004 by at least 30%.

In 2007, China again came second on the list of Dubai's top trading partners for the third consecutive year. Dubai also exports AED661.2 million [US$180mn] worth of goods to China, which is twelfth on Dubai's export list. "Dubai World is a major investor in China through its projects in Qingdao and Shanghai ports, and is looking to expand into other areas,” remarks Bin Sulayem. China is also a major re-export market for Dubai, the value reaching around AED622.3 million (US$169mn).