Trade and economic government officials from China and the Gulf Cooperation Council have committed to boosting trade ties. This year's economic and trade cooperation forum provides a renewed impetus to China-GCC connectivity. Omar Khan has the details.
A new chapter has been forged in China-Gulf nation cooperation, with trade and investment ties at the core.
Commerce ministers and various political delegations from China and the six Arab state members of the GCC gathered in Guangzhou, looking to further expand on already strong economic links.
WANG WENTAO Chinese Minister of Commerce "In 2022, our trade exceeded 300 billion U.S. dollars, an increase of 35.6 percent year on year. In the first eight months of this year, our bilateral trade was 188.8 billion U.S. dollars, growing steadily."
Much of what has been agreed to and discussed at this year's forum goes back more than 10 years, when China and the GCC recognized the importance of coming together.
JASEM MOHAMED ALBUDAIWI Secretary General, Gulf Cooperation Council "China-GCC cooperation covers a wide range of sectors and industries. In December 2012, President Xi Jinping attended the China-GCC Summit. This summit aroused a very vigorous response and feedback from various countries. The summit helped reach a number of agreements and consensus."
And with this year seeing the 10th anniversary of the Belt and Road Initiative, GCC member nations like the United Arab Emirates are recognizing the investment opportunities both within their borders and beyond.
ABDULLA BIN TOUQ AL MARRI Minister of Economy, UAE "The Belt and Road Initiative was proposed 10 years ago, and the UAE has always been a supporter to China's efforts in promoting the development of the BRI. Under the BRI framework, a lot of progress has been made between China and other countries and international organizations. The UAE invested 10 billion U.S. dollars into a joint investment fund to support BRI projects in East Africa."
With more than 400 government and business representatives in attendance, there are hopes that relations between those here will go beyond natural resources, and tap into new sectors such as clean energy, the digital economy and more. Omar Khan, CGTN, Guangzhou.