On the afternoon of July 3rd, the Tianjin Economic-Technological Development Area (TEDA) successfully hosted a high-quality Middle East outreach event and the promotional conference for the UAE China Innovation Center (CIC).

During the event, the TEDA Administrative Committee and CIC signed a memorandum of understanding, embodying TEDA's commitment to implementing the city's broader high-level opening-up initiatives. This collaboration represents a significant strategy for TEDA to enhance its efforts in foreign investment, trade, and economic cooperation.

Strengthening Bilateral Relations and Business Synergies

The agreement between TEDA and CIC aims to foster extensive collaboration between enterprises and institutions in both regions. This includes promoting developments in various fields such as industry, trade, technology, research, and innovation. The two parties plan to co-host industry fairs, product seminars, and technical exchanges periodically, creating a comprehensive service platform for trade, investment, and innovation. This platform will establish a network of entrepreneurs from Tianjin and Dubai, providing multi-dimensional support for local business investments and entrepreneurship. Additionally, a daily communication mechanism will be set up to facilitate ongoing cooperation between TEDA and the UAE, as well as other Middle Eastern countries, attracting more businesses and capital to invest and operate locally. This initiative will also help TEDA enterprises expand globally, fostering a dynamic "bring in" and "go out" strategy that exemplifies high-level international cooperation and openness.

CIC's Role in Enhancing Middle East Partnerships

CIC will leverage its localized advantages in the Middle East to explore multi-faceted cooperative frameworks between Tianjin and Dubai, encompassing friendly city relations, cultural exchanges, and economic and trade cooperation. Both parties will actively plan the establishment of offices in each other's regions and expedite enterprise delegations for on-site inspections to better understand the investment environments, thus creating more opportunities for practical cooperation.

Taking advantage of the partnership with CIC, TEDA organized a high-quality Middle East outreach conference, inviting nearly 30 enterprises with interests in the Middle Eastern market. Dr. Jianwei Zhang, CEO of CIC, provided detailed insights into the business environment in the UAE, the current status of Sino-Arab industry cooperation, and strategies for market expansion in the Middle East.

Celebrating 40 Years of Progress and Innovation

This year marks the 40th anniversary of TEDA. Over the past four decades, TEDA has evolved into one of China’s largest and most outward-looking national economic-technological development areas, boasting an optimal investment environment. Integrating itself into the national agenda of opening up, TEDA has capitalized on its role as a crucial platform for reform and innovation within the free trade zone, pioneering over 110 reform and innovation experiences replicated nationwide and across Tianjin.

In addition, TEDA leverages financial tools to facilitate enterprise collaboration and outreach. In 2021, the Binhai Fund Town was inaugurated in the central business district of the free trade zone, regularly hosting cross-border e-commerce, market procurement, and financing activities. This has been instrumental in building a demonstration area for financial innovation and operations. In 2022, the Tianjin Pilot Free Trade Zone Central Business District established the Tianjin Free Trade Zone Cross-Border Investment and Financing Integrated Service Center, creating a joint service mechanism involving government departments, banks, and intermediary institutions. This initiative supports trade facilitation and investment liberalization, aiming to help enterprises increase orders, expand markets, and boost their market share. Leveraging policy synergies, TEDA has promoted collective overseas expansion, completing 184 foreign direct investment projects with a total investment of approximately USD 4.45 billion from 2016 to May 2024. These investments span Europe, North America, South America, Oceania, Africa, and Asia, continuously expanding TEDA's international network and contributing significantly to high-level opening-up efforts.

The Role of the UAE China Innovation Center (CIC)

Initiated with the support of the Dubai Chamber of Commerce, CIC aims to facilitate Sino-Arab technological, economic, and industrial cooperation, assisting Chinese innovative enterprises in global business expansion while attracting Middle Eastern enterprises and capital to China. CIC has provided comprehensive professional services, including site inspections, investment promotions, business matchmaking, and company presentations for government delegations and social organizations from regions such as Zhengzhou, Wuxi, Xiamen, Dongguan, Yantai, Beijing Tongzhou, Shanghai Jing’an, and the Shanghai Council for the Promotion of International Trade, among others. Established in 1965, the Dubai Chamber of Commerce, with over 400,000 member enterprises, is the largest chamber of commerce in the Middle East and serves as the sole government-backed chamber in Dubai.