Arab Chinese Entrepreneurs Conference
The first day of the 10th Arab-China Business Conference hosted by the Saudi capital Riyadh saw the signing of investment deals worth around $10 billion, in what observers believe is a meeting among the Arab states. – China has recently reconciled and strengthened relations in a broader perspective.
Riyadh will host the tenth conference under the slogan “Cooperation for Prosperity” from June 11th to 12th; the purpose of the conference is to explore areas of cooperation of mutual interest in investment, economy and trade, and explore joint investment opportunities in various fields.
The meeting focused on various fields such as technology, artificial intelligence, renewable energy, agriculture, real estate and strategic minerals between Arab countries and China.
The conference is the largest Arab-Chinese gathering, with 23 countries participating and 2,000 participants including government representatives, CEOs, investors and entrepreneurs.
30 agreements and transactions
- The Saudis reported that on the first day of the conference, $10 billion was expected to be invested in 30 agreements and deals in sectors including technology, agriculture, real estate, mining, tourism and healthcare.
- Saudi Foreign Minister Prince Faisal bin Farhan said the meeting of Arab and Chinese businessmen “is an opportunity for the private sector to discuss investment prospects and work to strengthen friendship to build a common future”.
- Saudi Investment Minister Khaled Al-Falih referred to work on a new modern Silk Road between China and the Arabs. Realize Arab interests around the world.
- Ahmed Abu Gheit, secretary-general of the League of Arab States, said that Arab-Chinese cooperation will help attract investment to the region, as the recent period has witnessed progress towards the realization of an Arab common market, which will help to increase foreign direct investment flows.
new shift
Judd Ladd, an expert on Asian affairs and director of the Arabic-speaking China Center, revealed the significance of holding the Arab-China Business Conference during the current period in an exclusive interview with Sky Arabian News, saying:
- The 10th Arab-China Business Conference on the Middle East was held in Riyadh two days after US Secretary of State Anthony Blinken visited Saudi Arabia.
- The size of the Chinese delegation of more than 2,000 businessmen and investors is a remarkable event in itself, as by all standards this is a record number. As such, the opening of the conference clearly reflects a major shift in China. Middle East and Arab-Chinese reconciliation.
- The meeting brought together the world’s second largest economy with the most abundant energy sources, which led to the opening of markets and the boosting of capital for mutual funds that underpin the expansion of large projects.
- Arabs and Chinese explored opportunities between them for more than two decades, so much so that this meeting came to help many Arab countries develop their projects, and in return they got the most important infrastructure of the highest technical level from China , exceeding Europe. dream.
- Today, the Arabs and China are seeking trade partnerships, richer markets, and treaties dominated by equality and mutual benefit.
- What China has won for the Arabs is a set of industries, the most important of which are renewable energy, artificial intelligence, biotechnology and tourism.
- In turn, the Arab world provided sources of energy and raw materials that China lacked.
political reconciliation
The meeting is the result of political reconciliation between China and the Arab countries following the first Arab-China summit meeting held by leaders of Arab member states of the League of Arab States and Chinese leaders in December last year.
At that time, it was agreed that in the new era, we should make every effort to build a China-Arab community with a shared future, strengthen solidarity and cooperation, strengthen exchanges in various fields and at multiple levels between China and Arab states, and work together to meet the challenges of common development.
The second day of the conference is expected to witness a series of keynote speeches by Arab and Chinese government leaders, as well as dedicated seminars addressing a number of topics, the most important of which are supply chains for the oil and gas industry, innovation and global business supply chains, Research partnerships, challenges and solutions in mining and manufacturing.
It is worth noting that China’s foreign direct investment in the Arab world will reach about US$23 billion in 2021.