$430 billion.. The volume of trade exchange between China and Arab countries
Saudi Investment Minister: $23 billion is the share of the Arab world from China's foreign investments Pointing out that there is an ambition to increase these rates more than that to take advantage of the large and prosperous China market.
Shrouq
Saudi Foreign Minister Prince Faisal bin Farhan said that China is the largest trading partner of the Arab countries with $430 billion.
He stressed the mutual desire between the Arab countries and China to develop partnership and cooperation
Foreign direct investment
For his part, Khalid Al-Falih, Saudi Minister of Investment, said during the conference: "We will work with China to seize available investment opportunities and seek sustainable partnerships for a better future."
Khalid Al-Falih said that the volume of foreign direct investment from China to abroad has grown at a rate of 20% annually over the past decade.
$23 billion
Al-Falih stressed, during his speech at the opening of the tenth session of the Arab and Chinese Businessmen Conference held in the Saudi capital, Riyadh, that the Arab world's share of Chinese investments amounted to about $23 billion.
Pointing out that there is an ambition to increase these rates more than that to take advantage of the large and prosperous China market.
He added, “The balance of foreign direct investment in China in 2021 amounted to about three trillion and 600 billion dollars, 12% of which is from the Arab world.”
Saudi-Chinese investments
In related context, The Saudi Minister of Energy, Prince Abdulaziz bin Salman, said that joint Saudi-Chinese investments will be announced soon, in light of the growing relations between the two countries.
Prince Abdulaziz explained that growth in oil demand in China is still increasing, and that the Kingdom wants a part of this demand.
Arab-Chinese cooperation
The Secretary-General of the League of Arab States, Ahmed Aboul Gheit, said that Saudi Arabia is leading the joint action between the Arabs and China, noting that the Arab-Chinese cooperation will contribute to bringing investments to the region.
The Secretary-General of the Arab League indicated that the recent period witnessed progress towards achieving a common Arab market, which will contribute to increasing the flow of foreign direct investment.
On June 11 and 12, the Saudi Ministry of Investment will organize the tenth session of the Arab and Chinese Businessmen Conference, in partnership with the General Secretariat of the League of Arab States, the Chinese Council for the Promotion of International Trade and the Union of Arab Chambers, under the slogan “Cooperation for Prosperity.”
The conference aims to strengthen and document trade and economic cooperation between the Arab and Chinese business communities, and to explore intra-investment opportunities in many sectors. Most notably, technology, renewable energy, agriculture, real estate, minerals, and supply chains.
