Yinchuan - As an important platform for China and Arab states to promote cooperation and promote the high-quality development of the Belt and Road Initiative (BRI), the sixth China-Arab States Expo opens on September 21 in Yinchuan, the capital of Northwest China's Ningxia Hui Autonomous Region.
The sixth China-Arab States Expo opens on September 21 in Yinchuan, the capital of Northwest China's Ningxia Hui Autonomous Region. (Photo/The event organizer)
During the four-day expo, events such as the Belt and Road Trade and Investment Promotion Conference and the China-Arab Business Summit will be held, offering a comprehensive showcase of the new opportunities brought about by China's recent development for Arab states.
This year's expo introduces new sections such as the Central Enterprises Exhibition, Smart Meteorology Exhibition, Equipment Manufacturing and Technology Exhibition. These additions serve to further highlight the collaborative strengths between China and the Arab states in fields such as trade, energy, and infrastructure.
Renowned scholars and experts, including academicians, will deliver keynote speeches at the Technology Transfer and Innovation Cooperation Conference. Agreements regarding technology transfer and scientific cooperation between China and Arab states will be signed, and around 300 advanced and applicable technologies will be unveiled, propelling high-level dialogues, policy communications, and technological exchanges between China and the Arab states.
The sixth China-Arab States Expo opens on September 21 in Yinchuan, the capital of Northwest China's Ningxia Hui Autonomous Region. (Photo/The event organizer)
Since 2013, the expo has held five previous editions, attracting participation from 112 countries and regions and over 6,000 domestic and foreign enterprises. It has facilitated signing of over 1,200 cooperation projects, serving as a bridge and platform for mutual exchange and cooperation between Chinese and Arab enterprises and creating influential and exemplary achievements in Sino-Arab economic and trade cooperation.
China stands as the top trading partner of Arab countries, with bilateral trade soaring from $222.4 billion in 2012 to $431.4 billion in 2022. Various distinctive agricultural products from Arab states, such as olive oil from Tunisia and white shrimp from Saudi Arabia, have entered China through e-commerce platforms. Likewise, China's new energy vehicles and household appliances are increasingly entering Arab countries.
In 2022, China's direct investment in Arab states increased by $2.62 billion, a 13.3% year-on-year growth, while Arab countries' investments in China surged nearly ninefold to $1.05 billion.
These investments span various sectors, including oil and gas, construction, mining, manufacturing, logistics, and electricity, significantly promoting local economic and social development.
China plays a crucial role in infrastructure development cooperation with Arab states, and Arab states are essential markets for Chinese enterprises involved in overseas contracting projects.
In recent years, Chinese companies have been involved in constructing key infrastructure projects in Arab states, such as the Lusail Stadium in Qatar and the Central Business District of the New Administrative Capital in Egypt.
The China-Arab States Expo has become a pivotal platform for both sides to deepen practical cooperation, advance high-quality Belt and Road cooperation, enhance strategic alignment, achieve win-win cooperation, and benefit the people of both regions.