Business / Economy

Forum in Beijing to focus on China-Arab ties

By ZHOU WA ( Updated: 2014-05-30 18:57

How to facilitate the construction of the Silk Road economic belt and the 21st-century Maritime Silk Road will be discussed during the upcoming sixth China-Arab Cooperation Forum.

Vice Foreign Minister Chen Ming made the remarks on Friday, ahead of the forum on June 5 when ministerial officials from China and 19 Arab countries will gather in Beijing to discus ways to deepen China-Arab ties and cooperation.

Under the framework of "one belt and one road", China and Arab countries will deepen their cooperation in several areas, including construction of infrastructure, business and trade and people-to-people exchanges, Chen said.

"One belt and one road" is a proposal that was put forward by President Xi Jinping during his visits to Kazakhstan in September and Indonesia in October 2013. It is a major initiative of China for deepening reform and opening-up, especially opening up to the West.

"The initiatives of 'one belt and one road' will inject new energy to the existing bilateral and multilateral cooperation mechanisms among China and Arab countries," Chen said.

The "Silk Road Economic Belt" stretches from China to Europe through West Asia, and the "Silk Road On the Sea of the 21st Century" extends from China to the Indian Ocean, the Arabian Sea and the Gulf through Southeast Asia.

This year marks the 10th year since the establishment of the China-Arab Cooperation Forum.

During the forum, Chinese and Arab countries will review their achievements reached in the past 10 years and set the tune for the China-Arab ties in next decade. An action plan for 2014 to 2016 and a development outlook for next 10 years will be announced, Chen told reporters.

China-Arab ties and cooperation have been significantly improved in the past decade.

The trade volume between China and Arab countries rose from $25.5 billion to $238.9 billion, increasing 25 percent average each year, while the Chinese investment in Arab countries has grown 18 times, reaching $9.2 billion.

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