Dubai Chambers has signed a Memorandum of Understanding (MoU) with the Industrial and Commercial Bank of China Limited – Dubai (DIFC) Branch to enhance cooperation and improve the support available to companies and businesspeople in Dubai and China.

The MoU establishes a framework for extensive cooperation that will see Dubai Chambers assist the bank’s customers in setting up their businesses in Dubai. The two parties will also support the interests of the business communities in Dubai and China and promote collaboration between companies to boost bilateral trade and investment in both markets.

The MoU was signed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Wei Luo, General Manager of the Industrial and Commercial Bank of China Limited – Dubai (DIFC) Branch, at Dubai Chambers’ headquarters.

The agreement coincides with the 40th anniversary of the establishment of diplomatic relations between the UAE and China and ahead of the Dubai Business Forum – China.