The President of the Union of Arab Chambers, Chairman of the Bahrain Chamber of Commerce and Industry, Samir Abdullah Nass, praised the organization of the Arab-Chinese Economic Conference in Riyadh - Kingdom of Saudi Arabia, which is being organized by the Federation of Saudi Chambers, the Saudi Ministry of Investment, the Federation of Arab Chambers, the League of Arab States and the Chinese Council for the Promotion of International Trade ccpit, under the patronage of His Highness the Crown Prince and Prime Minister, Prince Muhammad 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, and the official and economic participation of businessmen and investors from the Arab sides and Chinese, where the forum is expected to be attended by more than 500 Arab and Chinese personalities.
President Samir Nass expressed the extent of pride in the development, prosperity, openness, and unprecedented economic renaissance the Kingdom of Saudi Arabia is witnessing, under the leadership of His Highness King Salman bin Abdulaziz Al Saud, may God protect him, and His Highness the Crown Prince Muhammad bin Salman bin Abdul Aziz. Dear Al Saud, may God guide his steps, who today bears on his shoulders the aspirations of the youth and their hopes for a future that emulates their aspirations and orientations, preserves their dignity and elevates their status among societies and peoples.
In a statement he made on the eve of the forum scheduled for June 11 and 12, he considered that "China is a strategic partner and a loyal friend, as cooperation between them extends back to 1,500 years, to the time of the Silk Road, where we exchanged goods, sparked innovation, and exchanged ideas. And we spread the fruits of cultural exchanges to the rest of the world, leaving a wonderful chapter in East-West sharing and mutual learning."
He said: China is the largest trading partner of the Arab countries, as the volume of trade has increased to more than 319.295 billion dollars, while the balance of Chinese foreign direct investment in the Arab countries has exceeded the limits of 23 billion dollars, an increase of 2.6 times over 10 years, with the implementation of more than 200 Belt and Road projects.
He stressed that cooperation between the Arab and Chinese sides should gain significant momentum in high-tech sectors, including 5G communications, new energy, space, digital economy and logistics.
He believed that the majority of Arab countries today have national development visions that depend on achieving sustainable development through diversifying sources of economic growth, especially the Gulf countries whose development vision is based on diversifying sources of income and economic growth and not relying on oil alone as a main source of economic growth. The process of diversifying the sources of economic growth involves the development of new activities, the most important of which is the strengthening of port infrastructure, and the development of a strong technology sector that is consistent with the global trend towards the digital economy.
He considered that these visions coincide positively with the objectives of the Chinese Belt and Road Initiative, which in turn is based on the development of infrastructure and technological communication between the countries joining it.
President Samir Nass concluded his statement by saying that the world is witnessing great changes, and in light of this exceptional moment, there is more than an urgent need for the Arab and Chinese sides to strengthen unity, cooperation and mutual support, by redoubling our efforts to build a Chinese-Arab society with a common future for the new era, and contributing to the cause noble for human progress.
