Riyadh – Mubasher: The 10th edition of the Arab-China Business Conference and the 8th Investment Symposium will kick off in Saudi Arabia on 11 June 2023.
The event is hosted by the Saudi Ministry of Investment and Ministry of Foreign Affairs in Riyadh for two days under the theme "Collaborating for Prosperity," with expectations to be the largest of its kind with over 2,000 individuals attending, according to a press release.
The forum aims to boost trade relations between China and the Arab world, bringing together high-level government and private sector speakers from two dozen countries to explore beneficial investment opportunities in major economic industries.
Khalid Al Falih, Minister of Investment of Saudi Arabia, said: "Trade and cultural ties between Arab countries and the People's Republic of China extend over 2,000 years, but have deepened significantly given the complementary nature of our economies in sectors critical to the global economy.”
Al Falih noted: “The Arab-China Business Conference will enable public and private sector participants to discuss the future of these collaborations.”
The forum is being held in partnership with the General Secretariat of the League of Arab States, the Chinese Council for the Promotion of International Trade, and the Union of Arab Chambers of Commerce.
The 10th edition of the conference will tackle several sectors that are fundamental to the Arab-China trade and investment relationship such as construction, logistics, financing, manufacturing, mining, minerals, and petrochemicals.
It will further focus on emerging areas of shared interest like tourism, entrepreneurship, and e-sports, besides The Kingdom’s recently launched Special Economic Zones (SEZs), which aim to welcome foreign direct investment (FDI) in nascent and mature industries.
In 2022, the value of trade exchange between the Arab countries and China amounted to SAR 1.60 trillion, equivalent to $430 billion, which marked a 31% growth over 2021.
It is worth noting that Saudi Arabia is the leading trade partner with China among the Arab countries, contributing nearly 25% to the total volume of trade.
Trade between Saudi Arabia and China stood at nearly SAR 400 billion which is equivalent to $106 billion, signalling a 30% annual increase.