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class=\"ewa-rteLine\">\u2022 H.E. Al Jaber: \u201cWe have competitive advantages to attract global investors\u201d<\/div>\n<div class=\"ewa-rteLine\">\u2022 Abu Dhabi accelerates investment ties with Jiangsu Province and gears up for big investments<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">An investment cooperation agreement with Jiangsu Province was signed on Monday to strengthen economic ties and build investment projects through joint opportunities for both the UAE and Chinese economies.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">The cooperation agreement was signed by H.E. Dr. Sultan Ahmed Al Jaber, Minister of State and Chairman of Abu Dhabi Ports and Madame Huang Lixin, Executive Vice Governor of Jiangsu Provincial People\u2019s Government, in addition to officials from both sides.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">In line with this strategic agreement, the ceremony also saw the establishment of a 50-year Musataha Agreement, signed by Abu Dhabi Ports with the Jiangsu Provincial Overseas Cooperation and Investment Company Limited (JOCIC), in Khalifa Port Free Trade Zone (KPFTZ). Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, Peng Xiangfeng, President of China Jiangsu International E.T.C.G and Luo Hua, General Manager of Jiangsu Province Overseas Cooperation and Investment Company Ltd. were the signatories of the lease agreement.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Under the terms of the agreement, China-UAE Industrial Capacity Cooperation (Jiangsu) Construction Management Co., Ltd., a UAE company newly established by JOCIC, will occupy and develop approximately 23.7 million square feet of the free trade zone for companies from the Chinese province of Jiangsu. This represents 2.2% of the available free zone space in KIZAD\u2019s newly allotted KPFTZ area.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">In addition to the signing ceremony, representatives from five Chinese tenant companies announced their plans to invest in the lease space, including Hanergy Thin Film Power Group, Jiangsu Fantai Mining Development (Group) Co. Ltd., Xuzhou Jianghe Wood Co. Ltd., Jiangsu Jinzi Environmental Technology Co. Ltd., and Guangzheng Group. The five companies signed with JOCIC as the frontrunners in taking advantage of the agreement\u2019s highly competitive trade benefits. Combined, the new tenants will inject over a billion dirhams into KPFTZ, creating over 1,400 jobs, broadening the financial and physical scope of the zone while bolstering its ties to the \u201cBelt and Road\u201d initiative.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Commenting on the signings, H.E. Dr. Sultan Ahmed Al Jaber said: \u201cWe have worked hard to make KIZAD not only the largest free zone in the region, but also one of the most sophisticated free zone areas in the world, particularly for the industrial and manufacturing sectors. Today\u2019s announcement reaffirms the longstanding partnership between our two countries, and signals to the world that Abu Dhabi and the UAE will play a critical role in the future of global trade.\u201d<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">H.E. Dr. Sultan reaffirmed that today\u2019s historic signing agreement between the government of Abu Dhabi and the Chinese Province of Jiangsu marks a new step in partnership \u2013 to strengthen the close ties between the UAE and the People\u2019s Republic of China.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">\u201cThe Musataha agreement between Abu Dhabi Ports and JOCIC will attract foreign investment into Abu Dhabi \u2013 an ideal environment for investment opportunities due to the competitive advantages Khalifa Port Free Trade Zone enjoys, including its strategic location, world-class infrastructure and logistics solutions. Khalifa Industrial Zone and Khalifa Port will become magnets of increasing investment due to the UAE\u2019s strategic location at the pivot point between Asia, Europe and Africa,\u201d H.E. Al Jaber added.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Since the visit of H.H. Sheikh Mohammed bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China in 2015, the relationship between the two countries has strengthened in a number of areas, most notably in economic and trade relations. In particular the UAE has committed to playing a key role in the development of the \u2018Belt and Road\u2019 and \u2018Maritime Silk Road\u2019 initiatives, which will foster economic growth. China is the UAE\u2019s second largest trading partner and the biggest exporter to the UAE. The UAE is considered a gateway to about 60% of China\u2019s exports to regional markets at an annual volume of exchange of 70 billion dollars. The UAE is also emerging as a logistical hub enabling trade connectivity between Asia and emerging markets in Africa.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Commenting on the signing ceremony and the future of trade between the UAE and China was H.E Vice Governor Huang Lixin who stated that, \u201cJiangsu and Abu Dhabi are highly complementary to each other in terms of natural endowment, economic structure and industrial systems, bearing the common wishes to speed up industrial structural adjustment and promote economic transformation and upgrading. It is good timing for us to jointly deepen industrial capacity cooperation and promote the \u2018Belt and Road\u2019 Initiative, and we will have a broad prospect in this undertaking. We will work together with Abu Dhabi to build the UAE-China Industrial Capacity Cooperation Demonstration Zone into a landmark program of the \u2018Belt and Road\u2019 initiative and a beacon of UAE-China exchanges and cooperation\u201d.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Captain Mohamed Juma Al Shamisi said: \u201cThe Musataha agreement between Abu Dhabi Ports and JOCIC is one of the largest-ever lease agreements for KIZAD to date. This investment will drive trade relations with Jiangsu and accelerate investment in industrial assets in Abu Dhabi\u201d.<\/div>\n<div class=\"ewa-rteLine\">Building on the success of China\u2019s \u201cBelt and Road\u201d and Maritime Silk Road initiatives, the agreement highlights the opportunities available to both Abu Dhabi and the UAE as regional economic integration deepens and trade ties expand across Asia.<\/div>\n<div class=\"ewa-rteLine\">Captain Al Shamisi also added that \u201cthe agreement plays a pivotal role in the Abu Dhabi government\u2019s plans to strengthen the infrastructure and transport sectors in Abu Dhabi, in line with the Abu Dhabi Economic Vision 2030. The support of our wise leadership and Abu Dhabi Ports\u2019 achievements to date have helped establish the emirate as a global trading and logistics hub, which has led to this milestone agreement. Today\u2019s signing ceremony with JOCIC highlights Abu Dhabi Ports\u2019 essential role in the shift of the UAE towards a diversified, sustainable economy.\u201d<\/div>\n<div class=\"ewa-rteLine\">\u201cLast year, Abu Dhabi Ports signed with COSCO Shipping Limited, the world\u2019s largest container operator, who chose Khalifa Port as the hub for its operations in the Middle East, and is expected to raise the annual capacity to 6 million TEUs in both its existing container terminals. This marks a significant leap in the expansion of the Port, transfer of goods and reduction of costs. In addition to attracting investors from Eastern Asia, it will increase Khalifa Ports\u2019 competitiveness and ease the way for more partnerships with companies and friends in China and East Asia, which will draw further investments into Abu Dhabi,\u201d said Al Shamisi.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">The lease promises to start a long-term, beneficial relationship between the two entities. It also includes the option for China-UAE Industrial Capacity Cooperation (Jiangsu) Construction Management Co., Ltd. to establish and develop a further 107,639,100 square feet of free zone at KIZAD Area B to meet additional demand by Jiangsu province businesses.<\/div>\n<div class=\"ewa-rteLine\"><\/div>\n<div class=\"ewa-rteLine\">Today\u2019s announcement is part of a string of recent investments and partnerships between the two countries that follow the establishment of the $10 billion joint investment fund established in 2015, UAE-China Joint Investment Fund, as part of Beijing\u2019s drive to forge closer commercial and political ties with the Middle East and build new trade routes between East and West.<\/div>\n","show_read_more":"0","content_for_read_more":""},"_links":{"self":[{"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/posts\/435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/comments?post=435"}],"version-history":[{"count":1,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/posts\/435\/revisions"}],"predecessor-version":[{"id":444,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/posts\/435\/revisions\/444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/media\/443"}],"wp:attachment":[{"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/media?parent=435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/categories?post=435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpvip.adportsgroup.com\/kezadgroup\/wp-json\/wp\/v2\/tags?post=435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}