Qatar Participates In First China-GCC Economic And Trade Ministerial Conference

(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: Qatar participated in the First China-GCC Economic and Trade Ministerial Conference, held in Guangzhou, China. The meeting was attended by H E Sultan bin Rashid Al Khater, Undersecretary of the Ministry of Commerce and Industry; H E Wang Wentao, Chinese Minister of Commerce; as well as the Ministers of Economy and Trade from the GCC. The Secretary-General of the GCC, H E Jassem Mohamed Albudaiwi, and Wang Weizhong, Governor of Guangdong Province, China, also attended the meeting.

During his speech at the meeting, the Undersecretary of the Ministry of Commerce and Industry emphasized the strong relationship between the GCC countries and China, which has become an exemplary model for international cooperation, noting that the two sides have worked for several years to deepen and strengthen their ties, as well as to develop the necessary mechanisms to ensure continued consultation and dialogue to achieve an ambitious future partnership based on shared values, interests, and ties between the peoples of the GCC countries and China, as well as the existing bilateral and multilateral cooperation in various fields.

MoCI Undersecretary further added that this partnership has enabled China to become the largest trading partner of the GCC countries.

He stated that Qatar believes in the importance of economic and trade cooperation between the GCC countries and China, given the economic weight of this group on a worldwide scale.

The trade volume between Qatar and China increased by approximately 45%, reaching $26bn in 2022. China is Qatar's main trading partner, with around 195 Chinese companies currently operating in the Qatari market.

For his part, Wang Wentao, Chinese Minister of Commerce, said:“The convening of the Ministers' meeting represents an important step in fortifying China-GCC economic and trade cooperation, in light of the China-Arab States summit and China-GCC summit, and in implementing the agreements reached between the Chinese and Gulf leaders, as well as strengthening economic and trade cooperation within the Belt and Road Initiative framework.”

He continued by stating:“This meeting is the first of its kind to hold a collective dialogue between China and GCC in economy and trade. We stand prepared to seize the opportunity of this gathering, working collaboratively to advance the growth and prosperity of our trade and investment cooperation, promoting the convergence of both parties' interests, ultimately elevating the existing strategic partnership to new heights.”

At the end of the meeting, a joint statement was issued on enhancing cooperation within the framework of the joint action plan for the strategic dialogue between the GCC countries and China. This is in accordance with what has been achieved at the Riyadh Summit for Cooperation and Development between the GCC and the People's Republic of China held in the Kingdom of Saudi Arabia in December 2022. The joint statement touched on common economic and development prospects and cooperation in trade, investment, the digital economy, sustainable development, and infrastructure.

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