Wednesday 19 June 2024
$300bn TARGET

GCC-China trade up 44pc, hits $133 billion

Manama, September 13, 2012

Trade exchanges between the GCC and China soared by 44.5 per cent last year to top $133.8 billion, while GCC exports to China also rose by 53.8 per cent to reach $86.9 billion, said a senior government official.

Chinese exports to the GCC increased by 30 per cent to reach an overall $46.9 billion, added Bahrain’s Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa.

He was speaking at the Arab-Chinese Co-operation Forum yesterday (September 12) in China.

He affirmed the resolve of both sides to bolster financial, economic and trade co-operation and boost joint investments.

Shaikh Ahmed described the symposium as a golden opportunity to boost trade ties.

He stressed the necessity to double efforts to increase the volume of trade exchanges between China and Arab states to $300 billion by 2014, up from $200 billion at present.

He pointed out the existence of promising opportunities to boost investments.

He also highlighted opportunities to set up joint trade ventures and strengthen ties between the private sectors. – TradeArabia News Service

Tags: China | GCC | Exports | Trade | Imports |

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