Arab businessmen are looking forward to deepening the Arab-Chinese economic and trade cooperation – the Algerian dialogue

Many Arab businessmen expressed their confidence in the resilience and dynamism of the Chinese economy, especially after the country’s improvement and adjustment of pandemic prevention policies, praising the Chinese economy’s ability to face external shocks and changes and limit their impact.
As China continues to implement its strategy to expand domestic demand to accelerate recovery and stimulate consumption, Arab businessmen are looking forward to deepening economic and trade cooperation between Arab countries and China, and benefiting from the enormous potential and capabilities of the Chinese economy.

Promising growth for the Chinese economy
In this regard, Mohammed Al-Ajlan, Vice Chairman of the Saudi Ajlan & Brothers Group and Chairman of the Saudi-Chinese Business Council, said that the steady growth of the Chinese economy is of great importance to the global economy and makes an important contribution to the stability of supply chains.

Al-Ajlan added that the COVID-19 pandemic has affected global industrial and supply chains, and China has properly responded to the crisis and actively maintained the stability of global industry and supply chains, and the Chinese economy has shown strong resilience and vitality.

Al-Ajlan believes that China’s improvement and adjustment of pandemic prevention and control measures according to time and situation will not only help promote the steady recovery of the Chinese economy, but also enhance the confidence of foreign investors and companies, and help the world’s economy recover.
This opinion was shared by Diaa Helmy, Secretary General of the Egyptian-Chinese Chamber of Commerce, who indicated that during the past three years, the Chinese economy grew in light of the pandemic at an average annual rate of 4.5 percent, leading the major economies in the world. He added that the positive results of China’s improvement and adjustment of epidemic prevention and control policies are beginning to appear at present, and the international community is full of expectations about the opportunities brought by the rapid recovery of the Chinese economy.
He said that based on the booming “Spring Festival economy” in China, the demand of domestic consumers in China is being liberalized. At the same time, China continues to expand its opening up to the outside world, promotes liberalization and facilitation of trade and investment, and strengthens mutually beneficial cooperation with other countries. . International investment institutions have raised their forecasts for China’s economic growth in 2023, believing that the accelerated recovery of the Chinese economy will be of great benefit to the recovery of the global economy.
Karim Adel, head of the Justice Center for Economic and Strategic Studies, stated that the Chinese economy enjoys solidity and flexibility, explaining that solidity is represented in its ability to face external shocks and changes and limit their impact on the Chinese economy, while flexibility is represented in its speed in adapting to global changes and developments and preserving the gains. And the successes achieved by the Chinese economy and its development plans in the future.
He pointed out that the Chinese economy has great potential and enormous capabilities and enjoys great confidence from the international community, which makes it able to continue the reform and development process, lead the global economy to overcome global challenges and crises, and achieve higher international growth rates.
And the International Monetary Fund recently issued an update to its forecasts for the global economy, which included a significant increase in the recovery of economic growth in China this year, to reach 5.2 percent.

Closer trade exchanges between China and Arab countries
According to the report “Review of Economic and Trade Cooperation between China and Arab Countries and Prospects for 2022” issued by the Academy of International Trade and Economic Cooperation of the Chinese Ministry of Commerce, from 2004 to 2021, the total volume of imports and exports between China and 22 Arab countries increased from $36.71 billion to $330.24 billion. dollars, with an average annual growth rate of 13.8 percent, making China the largest trading partner of the Arab countries.
Al-Ajlan said that China encourages foreign businessmen to invest in China, is constantly working to improve the business environment, has a strong attraction for foreign investment, and the volume of foreign investment in it is expanding steadily, expressing his belief that China’s continued promotion of openness and cooperation is of great importance to global economic growth. And prosperity, and countries can achieve the goals of economic development only through strengthening cooperation.
Helmy also referred to the widespread popularity enjoyed by Chinese products in Arab countries, saying, “When I participated in international conferences and television talk shows in Arab countries, I clearly felt that local consumers prefer Chinese high-tech products, especially electronic products such as mobile phones and home appliances, as well as new energy vehicles”.
Helmy added that as a major country with increasing global influence, China has always demonstrated its commitment to strengthening mutually beneficial cooperation with all parties, and the cooperation between Egypt and China fully reflects this. As with the deepening intertwining between “Egypt’s Vision 2030” and the joint construction of the “Belt and Road” initiative, the economic and trade relations between Egypt and China have become closer.
He said that Egypt’s “Vision 2030” attaches great importance to promoting the development of local manufacturing, while strengthening technological cooperation with China is crucial for Egypt to achieve the relevant goals. Looking to the future, there is enormous potential to further enhance pragmatic cooperation between Egypt and China, adding that further deepening and expanding trade and investment cooperation between the two sides will not only push Egyptian-Chinese relations to a new level, but also contribute positively to the development and stability of the entire Arab region.
Egyptian businessman Haitham Talha said, “The Belt and Road Initiative is a strong supporter of regional and international development, as it promotes development, infrastructure and trade in the participating countries, including Arab and African countries.”
Talha considered that “the Chinese experience is inspiring to all economies, especially Arab societies, in light of the common denominators that unite Arab societies and Chinese society.”
Al-Ajlan said that during the Arab-Chinese summit, Arab and Chinese leaders reached many consensuses, and many cooperation documents were signed, indicating that “in the next step, these consensuses should be implemented so that the results of cooperation benefit the two peoples.”
Al-Ajlan stated that governments and companies in many places in China have started communicating with Saudi Arabia and arranging mutual visits, and it is expected to strengthen economic and trade relations between the two sides.
He reported that many Chinese companies have actively participated in large-scale infrastructure construction in Saudi Arabia and made important contributions to its economic development. Chinese companies currently have world-leading technologies, services and products in the fields of 5G, artificial intelligence, big data, biotechnology, financial technology and automation.
He added, “We look forward to strengthening the interdependence of development strategies between Arab countries and China, and to finding a pattern of high-level cooperation in the fields of energy, economy, trade and advanced technology.”