China has signed cooperation documents on jointly building the Belt and Road with 18 Arabian countries, the Ministry of Commerce (MOC) said Friday, July 12.
China-Arab joint efforts to push forward cooperation on the Belt and Road has reached notable achievements, showing great potential and broad prospect, Vice Minister of Commerce Qian Keming told a press conference of the fourth China-Arab States Expo.
In 2018, bilateral trade volume between China and Arabian countries reached 244.3 billion U.S. dollars, jumping 28 percent year on year.
Chinese enterprises signed 35.6 billion dollars of new project contracts in Arabian countries, with a yearly increase of 9 percent, while direct investment from Chinese companies in Arabian countries totaled 1.2 billion dollars, involving sectors such as energy, infrastructure, and manufacturing.
Qian said China will further strengthen connections of development strategies with Arabian countries so as to jointly build the Belt and Road.