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Wednesday, April 14, 2021

Arab-Chinese Trade Tops $240bn in 2020

The trade exchange between Arab states and China has topped $240 billion in 2020, according to the League of Arab States on Tuesday. 

The 9th Session of the Arab and Chinese Businessmen Conference on Tuesday saw a significant growth in the trade exchange between Arab states and China since the establishment of the Arab-Chinese Cooperation Forum in 2004, adding China is the second largest trade partner of Arab nations. 

“The volume of trade exchange between the Arab countries and China increased from 36.4 billion US dollars in 2004 to 240 billion dollars in 2020, achieving a significant increase that exceeded 204 billion dollars,” in a statement by the League. 

They added that Saudi Arabia, the United Arab Emirates and Iraq are the largest trading partners with China.

The event held through video-conference, discussed the promotion of economic integration among others, in efforts to develop economic cooperation among Arab states and China. 

B2B meetings among entrepreneurs from both sides were also held during the conference. 

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