B&R boost as China strengthens Arab ties
Print Edition
CHINA has signed cooperation documents on jointly building the Belt and Road with 18 Arabian countries, the Ministry of Commerce said on Friday.
China-Arab joint efforts to push forward cooperation on the Belt and Road has reached notable achievements, showing great potential and broad prospect, Vice Minister of Commerce Qian Keming said at the fourth China-Arab States Expo.
In 2018, bilateral trade volume between China and Arab countries reached US$244.3 billion, jumping 28 percent year on year.
Chinese enterprises signed US$35.6 billion of new project contracts in Arabian countries, with a yearly increase of 9 percent, while direct investment from Chinese companies totaled US$1.2 billion, involving sectors such as energy, infrastructure and manufacturing.
Qian said China will further strengthen connections of development strategies with Arabian countries so as to jointly build the Belt and Road. Chinese enterprises are encouraged to deepen cooperation with the Arabian side in sectors of port, railway, electricity and telecommunications, said Qian.
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