The China-Arab Trade Expo closed on Sunday in the northwestern region of Ningxia with $23.4 billion in deals signed. As is customary with these kinds of announcements, Chinese officials did not release any specific details about the deals or the companies involved.
The expo highlights the increasingly close economic ties between China and Middle Eastern countries, where China imports more energy from Arab and Persian Gulf countries while those states look to Chinese firms to build infrastructure and facilitate the transition to post-carbon industries.
WHY IS THIS IMPORTANT? These types of trade expos, there’s also one for Africa as well, are increasingly becoming a critical Chinese competitive advantage over its U.S. and European rivals whose governments do not organize these types of events that foster large-scale corporate engagement with developing regions.
SUGGESTED READING:
- South China Morning Post: China-Arab states expo wraps up with US$23.4 billion worth of deals by Kandy Wong
- Global Times: Sixth China-Arab States Expo expected to attract over 10,000 participants: MOFCOM
