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A large-scale center for exporting Chinese commodities to the Middle East, Africa and Eastern Europe is expected to be set up in Dubai, the main business city in the United Arab Emirates (UAE) by June 2004, said Wei Jianguo, Vice Minister of Commerce in Beijing Thursday.
The "China Town" project, cosponsored by the Chinese and UAE governments, will provide business negotiation venues, storehouses as well as transportation and accommodation services for about 5,000 Chinese enterprises.
The center, occupying 340,000 square meters, will be the largest overseas Chinese community established by China with business, cultural, catering and entertainment functions.
Dubai, a world famous free port for entrepot trade, is called by some people "Hong Kong in the Middle East," said Wei, expressing confidence the center will promote China's exports to the region as well as prosperity in Dubai.
Official statistics show that the trade volume between China and the UAE reached US$5.8 billion last year, and is expected to hit US$8 billion this year.
(Xinhua News Agency April 2, 2004)
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