Officials and businessmen from UAE and China have converged in Sharjah for a major Chinese fair in the Middle East, which opened today (December 16).

The three-day 12th Chinese Commodities Fair Sharjah is expected to further boost the already strong trade exchange between the two countries, said the organisers Expo Centre Sharjah.

“The UAE-China trade is on a strong footing, with bilateral trade registering a double-digit growth so far this year. I am sure that the economic reforms announced by China and the mega infrastructure projects being under taken in the UAE and the rest of the region will further boost these trade exchanges,” said Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah.

China has pledged to push economic and social reforms in the next decade to unleash fresh growth drivers for the world's second-largest economy, including the gradual opening of Chinese markets which will give more opportunities to GCC investors to tap into Chinese growth, he said.

“The free trade agreement with GCC will work both ways – while it will ensure crude oil supply for China, it will encourage GCC investors to set up shop in China and take advantage of the growth momentum in that country,” Al Midfa said.

The petrochemical enterprises in the GCC have a ready market in China, where they could promote industry efficiency and reduce energy prices, he added.

The proposed FTA will also help Chinese enterprises further explore the Middle East market, which has strong demand for Chinese goods such as electronics, home appliances, vehicles, building materials, machinery, industrial products, toys and agriculture products & fertilisers.

More than 150 exhibitors are also showcasing fast food and puffed food processing equipment, traditional arts and paintings, building materials, irrigation and water saving technologies, wood craft, textiles, glassware, metal products, cast iron and cast copper crafts, electronics, IT products, garments, footwear, hardware, chemicals and machine parts. - TradeArabia News Service