Sheikh Saud bin Saqr Al Qasimi Strengthens UAE-China Industrial Ties with New Agreement
Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, emphasized the importance of strengthening strategic industrial relations and partnerships. This is a key part of the emirate’s plans to diversify its economy and contribute to the UAE’s economic prosperity and sustainable development.
He stated, “In Ras Al Khaimah, we are committed to achieving growth and advancing development across various vital sectors, in alignment with national visions and strategies aimed at elevating the UAE’s status among the world’s most advanced nations and strengthening its global competitiveness as a hub for industrial innovation.”
Sheikh Saud praised the robust economic relations between the UAE and the People’s Republic of China, highlighting their continuous development and growth. He noted that Ras Al Khaimah now hosts over 200 Chinese companies registered with the Ras Al Khaimah Economic Zones Authority (RAKEZ). Additionally, three Chinese projects are currently under development on Al Marjan Island, with investments estimated at AED 4.5 billion.
This announcement came during Sheikh Saud’s reception of Yang Yuelu, Chairman of Shandong Timber & Wood Association, at his palace in Saqr bin Mohammed City. The Shandong Timber & Wood Association is a global leader in the wood industry and export in China’s Shandong Province.
Sheikh Saud witnessed the signing of an agreement between RAKEZ and Shandong Timber & Wood Association to establish “Zhong A Shandong Industrial Park” in Ras Al Khaimah, with an investment of US$360 million. The agreement was signed by Rami Jallad, CEO of RAKEZ, and Yang Yuelu, Chairman of Shandong Timber & Wood Association and Chairman of “Zhong A Shandong Industrial Park” in Ras Al Khaimah.
The industrial complex, to be built in the Al Ghail Industrial Area, is expected to attract more than 60 Chinese companies working in various sectors and provide over 3,500 job opportunities in the next five years.
The meeting was attended by several officials from Ras Al Khaimah and the Chinese side.
Doubts Revealed
Sheikh Saud bin Saqr Al Qasimi -: He is the ruler of Ras Al Khaimah, one of the seven emirates in the United Arab Emirates (UAE). He helps make important decisions for his region.
UAE -: UAE stands for the United Arab Emirates, a country in the Middle East made up of seven smaller regions called emirates.
China -: China is a large country in Asia, known for its big population and strong economy.
Ras Al Khaimah -: Ras Al Khaimah is one of the seven emirates in the UAE. It is known for its beautiful mountains and beaches.
Economic diversification -: This means making the economy strong by having different types of businesses and industries, not just one.
Zhong A Shandong Industrial Park -: This is a new area being built in Ras Al Khaimah where many Chinese companies will set up their businesses.
RAKEZ -: RAKEZ stands for Ras Al Khaimah Economic Zone. It is a place where businesses can set up easily with support from the government.
Rami Jallad -: He is the CEO of RAKEZ, which means he is the top boss of the Ras Al Khaimah Economic Zone.
Yang Yuelu -: He is the Chairman of the Shandong Timber & Wood Association, which means he is the leader of a group of companies in China that work with wood.
Shandong Timber & Wood Association -: This is a group of companies in China that work with wood and timber, making things like furniture and building materials.