Two memorandums of understanding were signed between China and the United Arab Emirates at the China-Gulf Cooperation Council States Forum on Sustainable Development in Abu Dhabi on Dec 12, 2012.
China and Arab countries have a huge potential for financial cooperation as bilateral trade increased an average of 20 to 30 percent in recent years, especially in Islamic bond issuance and the establishment of investment funds, executives said on Sept 13.
Now is the perfect time for China and Arab League countries to cooperate more in the oil and gas sector.
Chinese and Arab entrepreneurs at the China-Arab States Economic and Trade Forum agreed that business cooperation between the two sides should be deepened.
Vice-Premier Li Keqiang on Wednesday called on China and Arab countries to expand cooperation in finance, oil and gas and renewable energy.
Trade between China and Arab countries has maintained steady growth since 2011, despite regional political unrest.
As the fifth Ministerial Conference of China-Arab States Cooperation Forum drew to a close on Thursday, participants from China and Arab League countries agreed to work side by side to address major international issues and bring tangible benefits to the people.
Vice President Xi Jinping vowed on Wednesday to cement energy and trade cooperation with the United Arab Emirates (UAE) and boost closer bilateral strategic partnership.
China will continue its efforts and welcomes any proposal that promotes the political resolution of the Syria issue.
China is willing to adopt a strategic and holistic approach and make joint efforts with the GCC to seize current opportunities, Chinese Premier said.
China will continue to provide financial and technological support for Chinese companies that wish to build infrastructure in Arab states, as well as improve its domestic investment environment for Arabian enterprises, according to a top Chinese official.
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