China-Arab States cooperation has seen fruitful results, and is expected to be further enhanced in various sectors, said Chinese officials at the Tuesday concluded 11th China-Arab Business Conference and 9th Investment Seminar of the China-Arab States Cooperation Forum.
China has long been a vital trade partner of Arab states. In the year of 2024, the bilateral trade volume between China and the Arab states exceeded 400 billion U.S. dollars, tenfold compared to less than 40 billion U.S. dollars in 2004.
To further enhance cooperation between China and Arab states, Chinese and Arabian trade promoting organs, the Secretariat of the Arab League, and the the People's Government of south China's Hainan Province co-hosted the three-day forum in Hainan's Haikou City.
"China has maintained its status as the largest trade partner of the Arab States for many consecutive years. In 2024, the total trade volume between China and the Arab States has exceeded 400 billion U.S. dollars. Bilateral investments between China and Arab States cover oil and gas, construction, manufacturing, new energy, health care, and many other sectors," said Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), in his speech at the conference.
Beyond the trade numbers, China and Arab states have been deepening the "oil and gas plus" cooperation model over the past years. Bilateral cooperation in cutting-edge technologies like big data, AI, and aviation and aerospace has been strengthened, and the industrial and supply chains of both sides have been integrated.
"We will leverage existing platforms such as the China-Arab Entrepreneurs Conference and the China-Arab Chamber of Commerce to create more cooperation opportunities through information sharing, group visits, and organizing various economic and trade activities," said Sun Xiao, secretary-general of the China International Chamber of Commerce.
To further foster cooperation between China and Arab states, the conference adopted the Haikou Declaration, highlighting strategic cooperation in various sectors,such as green energy, finance, industry, agriculture, and legal services, as well as promoting private sector cooperation and optimizing business environment.
China, Arab states to further enhance cooperation: officials
