China-UAE Ties: Chinese President Xi meets with UAE rulers at presidential palace

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02:24

It's the first visit to the UAE by a Chinese president in 29 years. Experts believe, there's potential for more cooperation. Yasser Hakim has more.

The preparations leading to the visit were unconventional. A China week that includes a book fair, a Chinese film festival and Opera performance. In Dubai, the Burj Khalifa was lit up with the famous red and yellow. While the largest China town in the Middle East is to be established in the same city.

YASSER HAKIM ABU DHABI "The visit by the Chinese president is viewed here as a major stepping stone for the economic and political relations. It comes a few days after the China and Arab states Forum in Beijing where China pledged twenty billion dollars of loans to Arab states."

But for the two nations, it's more about mutual investments in several sectors

HONGBIN CONG ADVISOR, NEW SILK ROAD INVESTMENT CORP. "The two countries set up an investment fund of $10 billion. Dozens of agreements were signed in infrastructure, energy, transportation, currency, Finance, across the spectrum along the Belt and Road Initiative. The UAE is a founding member of the Asian Infrastructure Investment Bank."

Emirates' Adnoc and China's CNPC signed a $1.6 billion seismic survey gas and oil exploration project, on the day of President Xi's arrival.

HONGBIN CONG ADVISOR, NEW SILK ROAD INVESTMENT CORP. "I think it's a breakthrough, China has been buying oil and chemicals from this region for many many years, and never got it's hands on oil exploration. It's a very new thing. A good thing of course."

Bilateral trade is over 53 billion dollars and investments ten billion. But officials from both sides say there's potential for more. YHA for CGTN, Abu Dhabi.