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This collaboration is expected to bolster trade between China and the GCC countries
Conares, the second-largest private steel manufacturer in the UAE, has officially announced a partnership with C&D, a Fortune Global 500 company focused on supply chain operation services and real estate development based in the city of Xiamen, China. This groundbreaking collaboration will empower the Chinese corporation to distribute high-quality steel from China in the GCC region, strengthening trade ties between them.
The official signing of the partnership took place at Conares’ steel plant in the Jebel Ali Free Zone (JAFZA) in Dubai. Zheng Yongda, general manager of Xiamen C&D Corporation Limited & Deputy Party Secretary and Bharat Bhatia, Chairman and CEO of Conares, was also present, accompanied by other distinguished guests and senior executives from Conares.
Bhatia said: “ This collaboration represents a significant milestone for both Conares and C&D, as we leverage our respective strengths to foster economic growth and enhance trade relations. By combining Conares’ expertise in steel manufacturing with Chinese steel, known for its exceptional quality, stable quantity and wide variety we aim to cater to the rising demand for steel products in the GCC market.”
Yongda added: “Our new partnership with Conares is invaluable to us and we look forward to working with them to expand the distribution of Chinese steel in the GCC region. This collaboration signifies a new chapter of cooperation between C&D and the UAE, and we are confident that our high-quality steel products will contribute to the development and growth of various industries in the region.”
The partnership will provide the GCC region with access to a wide range of top-grade Chinese steel products, meeting the growing requirements of various industries, including construction, infrastructure development, and manufacturing. This collaboration is expected to bolster trade between China and the GCC countries, facilitating a seamless exchange of goods and services.
The GCC region has witnessed remarkable growth in recent years, driving the demand for steel products to new heights. The partnership with C&D enables Conares to expand its product portfolio and ensure a steady supply of high-quality Chinese steel to meet the region’s evolving needs.
Later, speaking to Khaleej Times, Yongda said that C&D’s parent company has been here for over 10 years. “Dubai is the transit point for not just the GCC countries, but the Middle East and African countries. The policies in the free zones in the UAE are the best in the region and we are keen to expand here,” he added.