Mubasher: Vice president and ruler of Dubai Sheikh Mohammed bin Rashid on Friday announced that the UAE and China closed $3.4 billion (AED 12.49 billion) agreements under Beijing’s Belt and Road initiative.
China will launch a $2.4 billion 60-million square feet storage and shipping station in Dubai’s Jebel Ali, which will serve as an exporting hub for Chinese goods, Bin Rashid added, according to the National newspaper.
The Emirati vice president also revealed that China would invest $1 billion in food project in Dubai, which include the export of agriculture, fishery, and animal products.
The Belt and Road initiative aims at linking China with South-East, South, and Central Asia; the Arabian Gulf; North Africa; and Europe.
