Qian Keming, the Chinese Vice Minister of Commerce revealed that the bilateral trade volume between China and the Arab countries had reached 239.8 billion dollars by the end of last year.
He pointed out that "China is the largest trading partner of the Arab countries, with evidence that Chinese exports to the Arab countries amounted to 1.123 billion dollars in 2020, an increase of 2.2 percent year on year despite the effects of the Corona pandemic," affirming that "the two shares of mechanical and electrical products and high-tech and modern products increased by 1.6 percent and 3.3 percent, respectively, and together they constituted 67.4 percent of total exports.”
Mr. Keming added that "the balance of Chinese direct investment in the Arab countries amounted to $20.1 billion until the end of 2020, while the total investment of Arab countries in China amounted to $3.8 billion, and it covers many areas, such as oil and gas, infrastructure, manufacturing, logistics, electric power and others."
He also declared that "there is huge potential for cooperation between China and Arab countries, especially in light of the "Belt and Road" project, and it is natural for the two sides in the future to expand cooperation in new areas such as the digital economy, new energy and artificial intelligence."
Source (Asharq Al-Awsat Newspaper, Edited)
