BEIJING, Sept. 6 (Xinhua) -- Some 600 business representatives gathered Thursday on China-Arab States Business Summit in Yinchuan, Ningxia Hui Autonomous Region, sharing insights and seeking further economic and trade cooperation between China and Arab States.
Themed on Promoting Economic and Trade Exchanges and Advancing Practical Cooperation, the summit attracted representatives of government departments, chambers of commerce and business associations, enterprises of China and Arab States as well as other countries related to the Belt and Road, acting as a high-end platform for policy release, dialogue and cooperation under the framework of the ongoing China-Arab States Expo.
China and Arab States are complementary in terms of economy with development strategies aligned with each other, according to Chen Jian'an, vice chairman of China Council for the Promotion of International Trade (CCPIT), noting that the Belt and Road Initiative (BRI) provides new platform for further cooperation.
The CCPIT will join forces with relevant institutions in Arab States to carry out more cooperation projects for mutual benefits, Chen said in a speech delivered at the summit.
It is noted that Arab States now have become China's most important market for contracting projects and partner for outbound investment. In 2018, trade volume between China and Arab States reached 244.3 billion U.S. dollars with Chinese enterprises inking new contracting deals worth up to 35.6 billion U.S. dollars and making investment of 1.2 billion U.S. dollars in Arab countries.
Arab States are important partners to the Belt and Road construction and the Arab League will actively advance cooperation and dialogues for the implementation of relevant polices and strategies, according to Mahmoud Hassan Elamin, head of the Representative Office of the Arab League in Beijing.
The summit also saw the release of Development Process of China-Arab States Economic and Trade Relations Annual Report 2018 as well as Research Report on Third-Party Market Cooperation Opportunities between China and Arab States. (Edited by Niu Huizhe, [email protected])