On August 19, the Chongqing-Ningxia Online Matchmaking Meeting and Project Signing were held at the Fifth China-Arab States Expo.
The signing ceremony at Chongqing Venue. (Photo provided to iChongqing)
Representatives from the business, economic information, cultural tourism, port logistics authorities of Chongqing and Ningxia, and urban (county) governments and open platforms attended the meeting. More than 130 representatives from 80 enterprises and business associations of the two regions attended the meeting to seek common development.
The matchmaking event and signing ceremony were set up in Chongqing and Yinchuan, respectively, and they were held simultaneously online and offline in the form of two-way promotion.
A total of 11 projects were signed at the Chongqing-Ningxia Economic and Trade Cooperation Online Project Signing Event, covering strategic cooperation between the government departments as well as investment and trade cooperation in multiple fields between enterprises from Chongqing and Ningxia, Chongqing and Arab countries, with a total signing amount of RMB 7.802 billion.
The signed projects mainly include strategic cooperation in commerce, cultural tourism, sports, and channels, as well as investment and trade cooperation in agriculture and animal husbandry, new energy and recycle economy, bonded warehousing, etc., giving new impetus to Chongqing's high-quality development.
In recent years, Chongqing has taken the opportunity to jointly advance Belt and Road cooperation to develop economic and trade exchanges with Arab countries. As a result, The Arab market has gradually become an important driving force for the continued growth of Chongqing's foreign trade and two-way investment.
A total of 11 projects were signed at the Chongqing-Ningxia Economic and Trade Cooperation Online Project Signing Event. (Photo provided to iChongqing)
According to data from Chongqing Commerce Commission, in 2020, the total import and export with Arab countries were RMB 12.17 billion, and the number of which was RMB 7.28 billion from January to June 2021, accounting for 10.1% of the city's total import and export in the same period.
As of June 2021, Arab countries have invested and established 15 enterprises in Chongqing, with a cumulative total of USD 32.31 million in contractual foreign investment and USD 242.14 million in actual foreign investment. By the end of June 2021, Chongqing has accumulatively invested USD 83.94 million in Arab countries, and the total contract value of undertaking projects has reached USD 317.8 million.
Song Gang, deputy director of Chongqing Commerce Commission, said that Chongqing and Ningxia had extended a warm invitation to all sectors to invest in the two regions through the two-way "cloud promotion," expressing their aspirations of seeking cooperation and sharing opportunities. Chongqing and Ningxia will further strengthen economic and trade exchanges and cooperation between them and jointly explore the Belt and Road market, including Arab countries, promoting a high level of opening up and development.
(Shi Jiaqi, as an intern, also contribute to this article)