Belt and Road countries upgrade cooperation strategies

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02:22

Top diplomats from China and the Arab world gathered in Beijing and discussed ways to improve their cooperation, with more than 100 deals in various fields getting discussed.

A "future-oriented strategic partnership of comprehensive cooperation and common development" between China and the Arab countries was established.

"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," said Chinese President Xi Jinping.

Chinese President Xi Jinping delivers a speech during the opening ceremony of the eighth ministerial meeting of China-Arab States Cooperation Forum (CASCF) at the Great Hall of the People in Beijing. /Xinhua Photo

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.

"This initiative is a historic initiative. It's an initiative that transforms the world we know it and we believe that there are tremendous opportunities for all the countries involved," said Adel Bin Ahmed Al-Jubeir, foreign minister of Saudi Arabia.

And some solutions for job creation has been found. Many say a higher employment rate will ultimately resolve the region's security concerns.

"The security situation in Somalia has improved greatly, and investment and projects can take place in Somalia," said Somali foreign minister Ahmed Isse Awad.

CGTN speaks with Somali Foreign Minister Ahmed Isse Awad in Beijing. /CGTN Photo

The cooperation between China and the Arab countries along the Belt and Road route can be traced back 2,000 years to 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, the 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 established a financial and regulatory center in China to make the collaboration process run smoother.

"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," said Calvin Fu, Abu Dhabi Global Market’s Chief Representative of China Office.

With these equal footed and mutually beneficial principles, the cooperation will have a bigger impact on multi-lateral relations.