Egypt’s Minister of International Cooperation Rania Al-Mashat has participated in the opening of the 10th session of the Arab-China Business Conference in Saudi Arabia which runs on 11-12 June, under the auspices of Saudi Crown Prince Mohammed Bin Salman.
Delegations from 23 Arab countries, along with a delegation from China, attended the conference to discuss prospects and opportunities for economic cooperation and joint investment.
Al-Mashat participated in the opening session of the conference, entitled “Investment and Financing Infrastructure of China’s Belt and Road Initiative”. The conference was launched by China in 2013 as a long-term strategy to enhance cooperation and integration between Asia, Europe, the Middle East, and Africa. It aims to upgrade infrastructure in the countries located on the Belt and Road, enhance connectivity between countries, and facilitate trade.
The session was moderated by Lara Habib from Al Arabiya channel, and included the Saudi Minister of Investment Khalid Al-lFalih, Chairperson of the Omani Investment Authority Abdul-Salam Majali, Vice-Chairperson of the Saudi National Development Fund Mohammad Al-Tuwaijri, Founder and Chairperson of ACWA Power Mohammad A. Abunayyan, Chairperson of the Chinese Council for the Promotion of International Trade Ren Hongbin, and President of the Hang Lung Group Ronnie Chan.
During the session, the participants discussed the role of the Belt and Road Initiative in promoting economic growth and development in China and the Arab countries, reviewed successful examples of existing partnerships between China and Arab countries, and discussed the impact of the COVID-19 pandemic on joint economic relations between China and Arab countries. They also talked about how joint relations can be strengthened through investments in various sectors, especially renewable energy and infrastructure development. The session also covered policies to facilitate investment and trade between the two sides, and the role of Arab investments in infrastructure and innovation in creating new opportunities for Chinese companies and investors.
The conference was organized by the Saudi Ministry of Investment in partnership with the General Secretariat of the League of Arab States, the Chinese Council for the Promotion of International Trade, and the Union of Arab Chambers under the slogan “Collaboration for Prosperity”. The various sectors, especially renewable energy, agriculture, and technology were discussed through many dialogue sessions and bilateral meetings.