Landmark China-Arab ministerial meeting to reap harvest

World Today

The 6th ministerial meeting of the China-Arab States Cooperation Forum has been taking place in Beijing. Chinese President Xi Jinping addressed the opening ceremony, laying out his vision for the future of the forum. For more on China-Arab relations, CCTV’s Zhong Shi joins us from Beijing.

Landmark China-Arab Ministerial Meeting to Reap Harvest

Landmark China-Arab Ministerial Meeting to Reap Harvest

The 6th ministerial meeting of the China-Arab States Cooperation Forum has been taking place in Beijing. Chinese President Xi Jinping addressed the opening ceremony, laying out his vision for the future of the forum. For more on China-Arab relations, CCTV's Zhong Shi joins us from Beijing.
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The 6th ministerial meeting of the China-Arab cooperation forum was held Thursday in Beijing. Chinese President Xi Jinping delivered the keynote address at the opening ceremony. The afternoon meetings yielded very concrete plans and goals to expand business ties.

Ministers from China and the Arab world signed the Beijing Manifesto at the conclusion of the forum. Officials call the document a significant step in the strategic cooperation between China and the Arab world. China has proposed a comprehensive cooperation strategy, known as 1+2+3. One refers to energy cooperation.

“The two sides will continue to collaborate and ensure a long-term oil strategy in order to ensure mutual energy security.” Chinese Foreign Minister Wang Yi said.

Number Two refers to improving trade and investment. China’s imports from the Arab states accounted for only 7% of total annual imports in 2013 while Investments in the region added up to just 2.2% of the total. That’s something both sides plan to change, according to the manifesto.

“China plans to increase its bilateral trade volume from last year’s 240 billion US dollars to 600 billion US dollars, and increase non-financial investment in Arab states from last year’s 10 billion US dollars to 60 billion in 10 years.” Wang said.

The third part of the strategy intends to improve the two sides’ cooperation in new sectors including nuclear energy, aerospace technology and new energy. China also promised to closely work with the Arab countries in such areas as infrastructure construction and job creation.

China’s strategic cooperation with the Arab world is an important part of its plans to build a Silk Road economic belt, and a maritime Silk Road. Today’s ministerial meeting marked the 10th year anniversary of the forum, and the three documents are expected to provide a blueprint for the two side’s cooperation over the next 10 years.

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