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Illustration of OBOR Summit. (Photo: Press Press / Laily Rachev Bureau)
Officially Wanting to Enhance Cooperation, OBOR Program has agreed by China and 18 Arab Countries
China - According to the source on Sunday (07/14/19), Deputy Minister of Commerce of China, Qian Keming said that several Chinese companies have signed a project contract worth USD 35.6 billion, equivalent to IDR 497.7 trillion with the 18 Arab countries, relating to the construction of ports, railroads, electricity lines, and telecommunications for OBOR (One Belt One Road) project.He said that this cooperation is extremely important especially in trading sector as China wants to enhance strategic relations with several Arab countries so that together they can develop the Road Belt Program even further.
Not only the cooperation in infrastructure development, Qian stated that China and Arab countries will hold a trading show in the upcoming September 5-8, 2019 in Yinchuan City, Ningxia Autonomous Region.
Electronic, infrastructure, trade and investment-based trading platforms will be featured in this exhibition. Qian also hopes that the exhibition can provide mutual benefits for China and Arab countries in improve the countries' incomes.
It is reported that the value of China's bilateral trade with several Arab countries in 2018 reached USD 244.3 billion or increased 28 percent compared to 2017 and they are expecting to reach even higher trade value for 2019.
Source: https://www.cnnindonesia.com/ekonomi/20190714110044-92-411933/china-dan-18-negara-arab-teken-kerja-sama-proyek-obor-rp497-t
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