The United Arab Emirates participated in the International Cooperation and Reconciliation Conference on Digital Economy, which took place today alongside the Global Digital Trade Exhibition in Hangzhou, China, attended by various international officials.
Mohannad Suleiman Alnaqbi, the UAE Consul General in Shanghai, emphasized during his speech at the conference that the UAE is one of the key trading partners of Zhejiang province in West Asia. He noted that the bilateral trade volume reached $16.75 billion in 2024, positioning the UAE as the largest trading partner of the province in the region.
He added that during the first half of 2025, bilateral trade experienced significant growth, with trade volume hitting $9.34 billion, indicating a 19.82% increase compared to the same period last year.
Alnaqbi pointed out that electric vehicle exports from the Port of Ningbo in Zhejiang to the UAE surged by 272.97% in the first half of 2025, with export figures reaching 3.68 billion Chinese yuan, making the UAE the largest market for electric vehicle exports from the port.
He also mentioned that the UAE has emerged as a prime investment destination for Zhejiang companies, including the Qingtai Group, which has established a photovoltaic energy production line in the UAE to serve the regional markets.
Alnaqbi highlighted the UAE’s status as a global economic center, ranking first among Middle Eastern economies in terms of competitiveness. The UAE’s stability is founded on several economic principles, including an open economy, talent attraction, and investment in the digital economy. He affirmed that the UAE offers an ideal business environment for investors due to its advanced infrastructure and professional services.
He noted that there are over 16,500 Chinese business licenses in the UAE, with approximately 350,000 Chinese residents in the country.
Meanwhile, Jin Shu, President of the China International Trade Association, stated that the global digital economy is undergoing rapid expansion, becoming a leading driver of economic growth and solidifying its role as a key factor in promoting international trade and aiding global economic recovery.
He added that Zhejiang province stands out as one of the major centers of innovation in this sector, continuously enhancing its presence in digital trade and establishing itself as a pivotal platform for cross-border e-commerce. Its traditional sectors, such as the small goods market, textiles, and metal tools, have opened up to global markets through innovative digital pathways.