DUBAI, May 20 (Xinhua) -- The foreign direct investment (FDI) office of Sharjah, member of United Arab Emirates (UAE), is targeting events in Chinese metropolises Shanghai and Shenzhen, in a bid to increase the UAE's business opportunities, state news agency WAM reported.
The organization will be exhibiting at the 2017 World Forum for Foreign Direct Investment, which takes place in Shanghai on May 23-24, and then at the China Offshore Summit, to be held in Shenzhen on May 24-25.
Sharjah's participation is aimed at strengthening its existing relationships and facilitating the forging of new alliances with prospective business partners.
Marwan Al-Sarkal, CEO of Shurooq, investment committee of Sharjah, described both forums as being crucial opportunities to raise awareness and continue investment momentum for the UAE, with an estimated 2016 bilateral trade with China of as high as 60 billion U.S. dollars.
He pointed to the fact that there are approximately 4,200 Chinese companies operating in the country, including Chinese blue chip firms China State Construction, China National Petroleum, Huawei, Bank of China, ICBC, and China COSCO Shipping.
"Sharjah plays a leading role in encouraging and facilitating investment, as one of the most strategically placed commercial centers in the region," said Al Sarkal.
Earlier last year, the tourism authority in the emirate of Sharjah said it was preparing to welcome as many as 200,000 Chinese visitors by 2021. In 2016, hotel facilities in the emirate received more than 86,000 Chinese guests, a 63 percent increase year on year, according to WAM.