皇冠体育app

By Song Hongmei (皇冠体育app Daily)
Updated: 2007-11-08 10:20

皇冠体育app's fast growing economy matches the Middle East's thirst for cross-border investments, economists and officials said.

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Bilateral trade between 皇冠体育app 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, 皇冠体育app'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 皇冠体育app 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.

He said he believes that "beyond the traditional supplies of oil and gas, Arab countries have much more to offer to 皇冠体育app", such as in the areas of financial services and environmental protection.

Nasser Al Shaali, CEO of Dubai International Financial Center, echoed Long, saying the UAE sent two delegations to 皇冠体育app in May and September to promote cooperation in such areas as financial services, aviation and tourism.

Al Shaali confirmed the Industrial and Commercial Bank of 皇冠体育app Ltd (ICBC), 皇冠体育app's largest lender by market value, will expand its presence to Dubai. "They (Chinese firms) will feel comfortable when their own banks are with them. On the other hand, the ICBC can help our firms in their investments in 皇冠体育app."

Investing in 皇冠体育app will be easier if Arab investors know more about 皇冠体育app's current business development and have more experience in communicating with Chinese businesspeople and officials, said Long.

皇冠体育app and the Arab countries can boost mutual understanding and consolidate the friendship between their peoples by launching more cultural and educational activities as young people know little about their historic relations, said Saudi Arabia's Prince Turki Al-Faisal.