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HONG KONG / WAM
The UAE GDP growth rate has outpaced its global equivalent over the past five years, according to a top executive at the UAE Ministry of Economy, who attributed the jumbo leaps secured by the country’s domestic economy to a robust energy sector and an agile economic diversification programme embraced by the wise leadership of the country.
Addressing a roundtable meeting at the Belt & Road Summit at the Hong Kong Convention and Exhibition Centre, Abdullah Ahmed Al Saleh, Undersecretary of Foreign Trade and Industry at the Ministry of Economy, said Chinese investments in the UAE reached in excess of $2.3bn in 2015, with non-oil sectors being most beneficiaries of the growing relations between the two nations.
He expected non-oil industries to grow by 3.3% during 2017 and to 3.4% next year on the back of significant growth recorded in local investments and the country’s booming international trade.
“We are very optimistic that non-sectors will grow by more than 3%, with EXPO 2020 Dub-ai to woo myriad investments across all strategic sectors,†he maintained, noting that UAE is seeking to boost investment ties and partnerships with Ho-ng Kong in parallel with remarkable successes achieved through Belt & Road Initiative.
“Over the past years, Hong Kong has turned to be the larg-est exporting markets to Middle East and forged construc- tive partnerships through the Belt & Road Initiative,†he said.