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Beijing has signed cooperation agreements as part of its multi-billion dollar "Belt and Roads" initiative with 17 Arab countries, the Xinhua News Agency reported, citing the results. of a Sino-Arab joint forum.
The second Sino-Arab Forum on Reforms and Development, held Tuesday in Shanghai, has attracted more than a hundred businessmen, politicians and politicians. and academics from China and the Arab States, including Egypt, Lebanon, Djibouti, and Oman. This year's meeting, entitled "Building the Belt and the Road, Sharing Development and Prosperity", was dedicated to promoting the project.
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Arab countries have shown great interest in cooperation with Beijing. In addition to joining the Belts and Roads Initiative, 12 Arab states have established strategic partnerships, including comprehensive, with China.
"Arab representatives said cooperation between the BIS and China offers huge opportunities for Arab countries to push reforms forward and accelerate growth," he said. Chinese Foreign Ministry spokesman Lu Kang told reporters at a press conference on Wednesday.
Sino-Arab cooperation on the project will receive another "Strong impetus" According to the diplomat, many leaders of Arab states are expected to attend the second Forum of International Cooperation between Belt and Roads, to be held in Beijing later this month.
China is the second largest trading partner of the Arab world with a business turnover of 190 billion US dollars in 2017, according to the deputy general secretary of the Arab League, Khalil Thawadi, quoted by the Jordan Times. The official noted that 21 Arab states had signed a protocol agreement on the new Silk Road in 2018.
China's ambitious global business infrastructure project is booming. This week, Switzerland has indicated its intention to register with the BIS. In March, Italy was criticized by its European allies by becoming the first G7 country to join the initiative. Shortly after, Luxembourg signed a memorandum of understanding on participation in the project. Memoranda of Understanding were also signed by Greece and Portugal in August and December respectively.
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