Sheikh Mohammed Rashid Reaches China to Be a Part of Global Summit
His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister of the UAE and Dubai’s Ruler, has reached Beijing to participate in a global summit on China’s flagship Belt and Road plan.
His Highness Sheikh Mohammed has joined the high-level meeting of leaders who are gathering at the Chinese capital for discussions on the wide-ranging scheme of the Belt and Road Forum, which is going to kick-off from this week. The global summit is going to take place from 25-27th April. The leaders would be discussing on global debt goals.
The Belt and Road drive, one of Chinese President Xi Jinping’s key policies, merges a land “economic belt” and a “rebuild the maritime silk road” ane envisions to connect China with South-East, South and Central Asia, the Arabian Gulf, North Africa and then finally with Europe.
The World Bank believes that the scheme would hold within 30% of the global GDP, 62% of the world’s population and 75% of known energy reserves.
China’s Belt and Road Portal has stated that the initiative already has the backing of over 100 nations.
Mr Xi started the Belt and Road project in 2013. It intends to create an international platform for economic co-operation, which consist of partnerships on trade and financial investments.
Sheikh Mohammed’s involvement in the coming forum follows a UAE delegation took part in a conference in China on the strategy last week. At the Belt and Road Initiative Tax Administration Co-operation Forum, representatives from the Federal Tax Authority and the Ministry of Finance were present in order to explore ways to bolster ties between nations involved in the drive and strengthen trade and investment.
China and the UAE have long-standing economic and cultural ties which date back decades.
The UAE is the home to 200,000 Chinese citizens and 4,000 businesses, while over one million Chinese tourists visited the UAE in 2017. In January last year, China agreed to allow UAE nationals to travel to the Asian nation without visas.