On July 3, 2024, an economic summit with significant international influence was held in Beijing, the capital of China. The China Arab States Industrial Development Business and Investment Theme Summit attracted political and business elites from the Middle East and China. The theme of this summit revolves around "Gathering Momentum for Industrial Development, Business and Investment between China and Arab States", aiming to further promote and deepen cooperation between the two regions in the fields of economy, culture and technology.
China and Arab countries have a long history of friendship, and have had extensive and in-depth exchanges and cooperation in multiple fields since ancient times, achieving fruitful results. In recent years, as China's "the Belt and Road" initiative is highly aligned with the development strategies of Arab countries, bilateral cooperation is increasingly strengthened, especially in emerging fields such as energy, infrastructure construction, scientific and technological innovation, green energy and the digital economy.
Faisal, the director of the Saudi Arabian Public Investment Fund (PIF), expressed optimism in his speech on behalf of the PIF Asia region regarding the deepening of bilateral relations between China and Arab countries. He mentioned that the Public Investment Fund is committed to promoting the "2030 Vision" plan and driving the prosperity of Saudi Arabia and the global economy. By investing in multiple fields such as photovoltaics, aviation, automobiles, new energy, and chips, it demonstrates the breadth and depth of cooperation.
Similarly, Hu, the Chief Executive Officer of Saudi Arabia's Public Investment Fund for Asia, shared PIF's successful experience in the Chinese market. His speech not only highlighted the deep cooperation between the two sides in technology and industry, but also highlighted the importance of cultural exchange and people to people cooperation. His sincerity and gratitude towards his partners demonstrate that the relationship between China and Arab countries is not only about economic cooperation, but also a symbol of deep friendship.
President Ji Xiaonan also emphasized in his speech that the world is currently facing unprecedented changes, and the global economic landscape is undergoing profound evolution, making China Arab cooperation particularly important. He mentioned that through this summit, he hopes to accumulate advantageous resources from both sides, promote industrial linkage innovation, and advance together on the path of economic, trade, and investment cooperation.
Former Vice Minister of Commerce Zhou Keren reviewed the history of China Arab cooperation in his speech, particularly the establishment of a community in areas such as political mutual trust, economic integration, and cultural inclusiveness. Minister Zhou emphasized that as important economies, China and Arab countries should jointly address challenges and promote stable economic growth in the context of global instability.
This summit is not only an important event in the history of bilateral cooperation between China and Arab countries, but also marks the mutual support and common development of the two places in the context of globalization. Through a series of high-level dialogues and exchanges, both sides look forward to deepening cooperation in more fields in the future, especially in cutting-edge areas such as high-tech and green energy.
During the summit, China and Arab countries had in-depth discussions on how to reduce trade barriers, optimize cooperation mechanisms, and improve trade and investment facilitation levels. In addition, a series of cultural exchange activities such as cultural festivals and exhibitions will further promote people to people exchanges between the two countries and lay a solid foundation for economic cooperation.
With the successful conclusion of the summit, both China and Arab countries have expressed high expectations and firm confidence for future cooperation. In today's increasingly complex and changing global economic and political landscape, the deepening of China Arab cooperation not only brings benefits to both sides, but also has the potential to play a greater role in promoting the improvement of the global governance system and the construction of the multilateral trade order.
