China-Arab Cooperation: Countries along the Belt and Road route upgrade strategies of cooperation

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02:39

Top diplomats from China and the Arab world have gathered in Beijing and are discussing ways to improve their cooperation. More than one hundred deals in various fields are being discussed. Zhao Yunfei has more from the China-Arab States Cooperation Forum.

A "future-oriented strategic partnership of comprehensive cooperation and common development" among China and Arab countries is being established, with Chinese President Xi Jinping laying down the groundwork.

XI JINPING CHINESE PRESIDENT "We must stay committed to dialogue and consultation, many issues in the Middle East must be addressed by all stakeholders together, they should not and cannot be decided by one party alone."

The eighth ministerial meeting of the China-Arab State Cooperation Forum adopted the Beijing Declaration, an action plan for the next two years and a statement on jointly building the Belt and Road initiative.

ADEL BIN AHMED AL-JUBEIR FOREIGN MINISTER OF SAUDI ARABIA "The initiative is a historic initiative. It's an initiative that transforms the world as we know it and we believe that there are tremendous opportunities for all the counties involved in it."

And some solutions are seen in creating job opportunities. Many say a higher employment rate will ultimately resolve the region's security concerns.

AHMED ISSE AWAD SOMALI FOREIGN MINISTER "The security situation in Somalia has improved greatly, and investment and project can take place in Somalia."

ZHAO YUNFEI BEIJING "The cooperation between China and Arab countries along the Belt and Road route can be traced back two thousand years when ancient maritime and land-based Silk Road routes closely linked China to the Arab states. But nowadays, fields of collaboration are more diverse."

China has become the second largest trading partner of the Arab world. In 2004, bilateral trade volume was 36.7 billion US dollars. This figure exceeded 100 billion US dollars in 2008 and reached 191.3 billion in 2017.

Some Arab countries, such as the UAE, have settled a financial and regulatory center in China to make the collaboration process run smoother.

CALVIN FU CHIEF REPRESENTATIVE OF CHINA OFFICE ABU DHABI GLOBAL MARKET "The China-Arab Cooperation Forum and its ministerial meeting have provided a platform for leaders and experts from both sides to exchange ideas. I hope that China's enterprises can make more financial investments in the UAE, and we'd be very happy to support it."

With these equal-footed and mutually beneficial principles, the cooperation bears on the larger picture of multilateral relations. Zhao Yunfei, CGTN, Beijing.