Thursday, November 8, 2007

More to Middle East than just oil

by Song Hongmei from China Daily (China)

China's fast growing economy matches the Middle East's thirst for cross-border investments, economists and officials said. Bilateral trade between China and the Arab countries has developed quickly over the past few years, said Long Yongtu, secretary-general of the Boao Forum for Asia, at the 11th annual Business Week CEO Forum in Beijing. In 2006, China's trade volume with Arab nations, led by Saudi Arabia and the United Arab Emirates (UAE), soared more than 10 times to $62 billion, from $5 billion in 1995, said Long. As China and the Middle East continue to intensify their economic links, both these strategically important regions have come closer, said Long. He added the two sides have enormous potential to cooperate with each other.

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