China Issues Arab Policy Paper to Coordinate Development Strategies with Arab States
China is coordinating development strategies with the Arab states nd putting into play each others advantages and potentials. Based on the first China’s Arab Policy Paper that was issued, stated China’s willingness to have pragmatic cooperation in the principle of mutual benefit together with a win win situation with the Arab states. Arab countries have becomes China’s largest supplier of crude oil and it 7th biggest trading partner. With China’s proposed initiatives of building together the Silk Road Economic Belt and the 21st Century Maritime Silk Road and to establish a 1+2+3 cooperation pattern and the industrial capacity cooperation is well received by the Arab Countries.
The 1+2+3 cooperation pattern is taking energy cooperation as the core, infrastructure construction and trade and investment facilitation as two wings and three high and new tech fields of nuclear energy, new energy and space satellite as the three breakthroughs. China is willing to coordinate development strategies with the Arab states and place into place of each other potential and advantages, enhance cooperation in the fields of infrastructure construction, trade and investment facilitation, space satellite, nuclear power, new energy, finance and agriculture. China willingness to cooperate will further promote the new type of cooperation mechanism that features openness and mutual benefit. Furthermore both sides encourage and support the expansion and optimization of mutual investment by enterprises from both sides.
China is ready to continue to provide foreign aid loan on favorable terms to Arab countries, strengthen exchanges and consultation between Chinese and Arab trade authorities, export credits and overseas investment insurance that completes the Chine GCC FTA negotiations and sign a free trade agreement.