The Secretary-General of the Union of Arab Chambers, Dr. Khaled Hanafi, headed the delegation of the Union participating in the tenth Arab-Chinese Economic Conference hosted by Riyadh - Kingdom of Saudi Arabia during the period 11-12 June 2023. Jointly organized by the Federation of Saudi Chambers, the Saudi Ministry of Investment, the Union of Arab Chambers, the League of Arab States, and the Chinese Council for the Promotion of International Trade CCPIT.
The conference was held under the patronage of His Highness the Crown Prince and Prime Minister, Prince Mohammed bin Salman bin Abdulaziz Al Saud, and in the presence of His Excellency the Minister of Foreign Affairs of the Kingdom of Saudi Arabia Prince Faisal bin Farhan bin Abdullah bin Al Saud, the Secretary-General of the League of Arab States Ahmed Aboul Gheit, the Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih, the Minister of International Cooperation in Egypt Dr. Rania Al-Mashat, the Egyptian Minister of Health Dr. Khaled Abdel Ghaffar, and a group of business leaders and the Arab private sector. Headed by Samih Sawiris and Ahmed Al-Suwaidi from Egypt, and a number of ministers, organizations and Arab economic bodies, as well as the participation of more than four thousand official and economic figures from businessmen and investors from the Arab and Chinese sides, including 1500 participants from China.
The Secretary-General of the Union, Khaled Hanafi, during his statements within the work of the conference, considered that "the Kingdom of Saudi Arabia's hosting of this conference comes as a continuation of its successful efforts since the holding of the Arab-Chinese Summit during the year 2022 in Riyadh." Noting "the outcomes of that summit gave a new impetus to Arab-Chinese cooperation in various sectors and fields."
He believed that "there is a serious and real opportunity to work on strengthening and consolidating the historical Arab-Chinese friendship, and building a common future towards a new era that benefits people and preserves peace and development in the world," noting that "there are great ways to develop investment and trade relations." Between the Arab world and China, hence the need for mutual compatibility, exchange of experiences, and launching new opportunities for growth and investment, which would achieve prosperity, progress, and prosperity for the peoples of the region and the world.
He pointed out that "during the past few decades, the Arab relationship has grown closer with China, which is considered a major partner and gateway to the Arab world." Explaining that “foreign direct investment from China to abroad has grown at a rate of 20 percent annually over the past decade, with the share of The Arab world about $23 billion of it, and there is still a possibility to increase investment flows in the other direction to take advantage of China's large and thriving market. On the other hand, the balance of foreign direct investment in China in 2021 amounted to about three trillion and six hundred billion dollars, 12 percent of which came from the Arab world. Consequently, these numbers indicate the existence of a sincere and genuine desire to upgrade joint relations to the level of strategic partnership.”
He noted, “There are strategic sectors through which joint investments can be enhanced, especially investments in technology. Cooperation in the green economy and green hydrogen field can also be enhanced to reduce greenhouse emissions. In addition to work to strengthen supply and supply chains, especially in light of the presence of ports and regions." A vital and strategic logistical approach, through which it is possible to open up not only to common markets but also to head towards global markets, thus helping to address the worsening global food security crisis.”
He noted “the importance of the role that the private sector can play, which is the pivotal and main player in the development of Arab-Chinese relations." Pointing out that "the Union of Arab Chambers, through its strategic partnership with the Chinese Council for the Promotion of International Trade (CCpit), has been able in recent years to advance the level of relations between Arab and Chinese businessmen and investors. Whether through the organization of the Arab and Chinese businessmen conference or through the Arab-Chinese exhibition that is held periodically in the Muslim-majority Ningxia Province, pointing out that "the vision is focused today towards strengthening the role of youth, through Supporting Arab and Chinese entrepreneurs, by organizing a competition for Arab and Chinese entrepreneurs.”
He considered that “hopes and aspirations are great, and from this standpoint, we seek not only to increase trade exchange between the Arab and Chinese sides but to adopt a new approach in the relationship based on the strategic alliance. Especially in light of the great opportunity for the Arab world to benefit from China’s huge financial surpluses. Through the implementation of strategic projects in the Arab region within the framework of the Belt and Road Initiative launched by Chinese President Xi Jiping in 2013.”
Source (Union of Arab Chambers)
