[ad_1]
The Strip and the Road, the Win-Win Road for China and the UAE
The UAE territory's surface is about 80,000 square kilometers, but as the country is at the edge of the Persian Gulf, land and sea transport is highly developed. Dubai is a famous airport and a distribution center of the world's products. In addition, the UAE is rich in oil and gas resources. Proven reserves of oil and natural gas rank sixth and fifth respectively in the world. In 2017, UAE per capita gross domestic product (GDP) exceeded $ 40,000. According to the country's development plan, the UAE will become one of the most developed countries in the world by 2021, the 50th anniversary of the founding of the country.
In 2012, the United Arab Emirates became the first Gulf country to establish a strategic partnership with China. Taking advantage of this opportunity, the two countries continue to strengthen cooperation in all areas, and several pragmatic cooperation projects have been realized during these years.
With the rapid impetus of the "Strip and Road" initiative, China and the Middle East have made progress in oil and gas cooperation. In 2017, the UAE granted the concession of 12% of the land block in Abu Dhabi to Chinese companies. It was the first time that China has gained the share of ascending cooperation in the Middle East oil producing countries. In March of this year, UAE again granted the 10% concession of two oil fields in the offshore block of Abu Dhabi to China.
Without a doubt, energy cooperation between China and the UAE has become the flagship project of deepening cooperation between China and this region.
In addition, they are gradually deepening cooperation between China and the UAE in the areas of infrastructure, telecommunications, finance and cultural exchange. Especially after the Chinese President, Xi Jinping, proposed the "Band and Road Initiative" in 2013, the crown prince of the UAE, Mohamed responded positively.It is foreseeable that the visit of President Xi will inevitably lead closer cooperation between the two countries in all areas.
In a broader perspective, strengthening cooperation between China and the UAE is a definite contribution to cooperation between China and the whole of the world. At the initiative of the Strip and the Road, the Middle East is located at the meeting point and is a natural and important area of cooperation.At present, China is the largest trading partner of 9 Arab countries, while Arab countries are also the largest supplier of crude oil, the seventh largest trading partner and major foreign investment destinations in China.
From 1978 in 2011, the volume of trade between China and the Middle East increased by 19.7% per year, which far exceeded China's average growth rate of foreign trade over the same period. Among them, energy cooperation is the most important for both parties. Currently, 70% of the energy imported from China comes from the 6 countries of the Gulf Cooperation Council (GCC). The huge size of the market and the great power consumption of the Middle East also offer a valuable opportunity for the development of China. From 2000 to 2012, the volume of Chinese exports to the Gulf region increased on average by 23% per year.
In 2014, President Xi Jinping noted at the Sixth Ministerial Meeting of the Sino-Arab Cooperation Forum that the Strip and Road is a win-win route for China and the UAE. For countries in the Middle East, "The Band and the Road" is a historic development opportunity not to be missed. In history, the economic prosperity and strong national strength of the Arab Empire or the Osman Empire have been attributed, in large part, to the important role played in the Silk Road connecting the trade between the East and the West.
When China offers the Band and the Road, the Arabs also take it as an opportunity for national and regional rejuvenation. Both parties recognize that development objectives and areas of cooperation complement each other; therefore, the prospect of building the band together and the road will be very bright.
F / F
Source link
