On July 20, 2018, during President Xi Jinping’s visit to the UAE, Minister of Commerce Zhong Shan and the UAE Minister of Economy Sultan Al Mansouri jointly signed The Memorandum of Understanding on E-commerce Cooperation between Ministry of Commerce of the People's Republic of China and Ministry of Commerce of the United Arab Emirates in Abu Dhabi.
In the Middle East， China has the greatest cooperation depth, the widest cooperation fields and the richest cooperation fruits with the UAE. In recent years, the economic and trade cooperation level between China and the UAE has developed steadily. In 2017, the bilateral trade volume reached about US$41 billion, equivalent to 276.7 billion yuan. The UAE remained to be China’s second largest trading partner in the Middle East, and China was also the UAE’s largest trading partner for many consecutive years. Both countries have very broad cooperation prospects under the Belt and Road Initiative.
The UAE is a model for diversified economic development in the Middle East, and both China and the UAE are actively exploring and expanding new areas of cooperation. According to the memorandum, China and UAE will establish an e-commerce cooperation mechanism to jointly create a sound development environment for e-commerce, conduct regular government-level dialogues, promote public-private dialogues, and launch joint researches. The cooperation between enterprises of the two countries in e-commerce projects will be supported, including promoting the trade of high-quality specialty products in their respective home countries through E-commerce, opening up new channels and new fields of economic and trade cooperation between China and the UAE, continuously improving the level of trade facilitation and cooperation between the two countries, and promoting the sustained and stable development of bilateral trade.