The UAE and China have officially launched the Qingdao Overseas Integrated Service Centre (QOISC) during the China-Arab Business Forum in Qingdao. This initiative represents a significant advancement in strengthening economic ties and accelerating trade, which reached a record $400 billion between China and the Arab world in 2024.

The forum was organized by the Qingdao Municipal People’s Government and the CHIMENA Business Council, with co-hosting from China’s Ministry of Commerce and Shandong Province. It highlighted the historical trade connections that have evolved over 2,000 years, tracing back to the Silk Route.

The QOISC, established by SEPCOIII Electric Power Construction Co. Ltd. and Hisense Group, is designed to act as a bridge for cooperation between China and Arab nations. The center aims to enhance two-way trade, which has dramatically increased from $36.7 billion in 2004 to over $400 billion in 2024.

During the forum, 40 projects valued at $5.93 billion were signed, focusing on high-end equipment, new energy, new materials, and next-generation IT. Additionally, more than 15 500 Chinese companies have invested over $6 billion in the UAE, highlighting the growing economic interdependence between these regions.

In terms of bilateral trade figures for 2024, Saudi Arabia led with $107.53 billion, while the UAE followed closely with $101.838 billion, marking a 7.2 percent year-on-year growth. The forum attracted 465 multinational companies, including 135 from the Fortune Global 500, under the theme “Innovation-Driven, Mutually Beneficial.”

Mohammed Saqib, Secretary-General of the CHIMENA Business Council, emphasized the importance of the QOISC, stating that it will significantly contribute to accelerating the $400 billion trade between these two expanding economic blocks. He noted that this initiative combines public and private sector strengths to foster enhanced economic cooperation, benefiting businesses and communities through trade, tourism, and cultural exchanges.

China’s engagement with Arab states is seen as a strategic approach to diversify partnerships and lessen dependence on any single power, particularly the United States. Chinese companies are increasingly active in various sectors within Arab nations, including energy, infrastructure, manufacturing, and new energy initiatives. They are also participating in key infrastructure projects such as ports and industrial zones, which play a vital role in developing trade hubs in the region.