Ras Al Khaimah has signed Memoranda of Understanding (MoUs) with the Bank of China and the Industrial and Commercial Bank of China (ICBC) to enhance economic cooperation and deepen strategic relations with China, in the presence of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.
The agreements aim to establish a comprehensive framework for collaboration across key sectors, including manufacturing, logistics, ports, renewable energy, and infrastructure, supporting the emirate’s economic diversification and sustainable growth objectives.
H.H. Sheikh Saud bin Saqr Al Qasimi emphasized that the partnerships reflect Ras Al Khaimah’s commitment to strengthening global economic ties and advancing long-term, sustainable development through international cooperation, particularly with China.
The MoU with Bank of China (Dubai Branch) focuses on facilitating investment flows, supporting Chinese companies in establishing operations in Ras Al Khaimah, and enhancing cooperation in priority sectors through the bank’s global financial network.
The agreement with ICBC Dubai Branch sets a framework to boost bilateral trade and investment, develop financing solutions for major projects, and encourage joint ventures with Chinese enterprises. It also includes plans for investment promotion activities such as forums, roadshows, and business delegations.
Both agreements are expected to strengthen Ras Al Khaimah’s position as a key destination for Chinese investment and deepen financial and economic linkages between the two sides.
The MoU signing took place during a visit by Ou Boqian, Consul General of China in Dubai and the Northern Emirates, and senior representatives from both banking institutions.
