Ministry of Commerce: China will deepen cooperation with Arab countries in oil and gas and other fields

Chinese Vice Minister of Commerce Li Fei said on July 31 that in the future, China will further consolidate energy cooperation with Arab countries and deepen upstream and downstream cooperation in the whole industrial chain of traditional energy fields such as oil and gas exploration.

The sixth China-Arab States Expo will be held in Yinchuan, Ningxia Province from September 21 to 24. Li Fei said at a press conference held on the same day that the China-Arab trade structure has been continuously optimized in recent years. China is now the largest trading partner of the Arab region. The trade volume between China and Arab countries has nearly doubled from US $222.4 billion in 2012 to US $431.4 billion in 2022.

Li Fei said that in the future, China and Arab countries will further strengthen the docking of development strategies, base on common interests, focus on long-term development, strengthen policy communication and exchanges, and expand practical cooperation in various fields such as energy, infrastructure construction, agriculture, investment and financing, and high and new technology.

He said that China will further consolidate energy cooperation with Arab countries, deepen upstream and downstream cooperation across the entire industrial chain in traditional energy fields such as oil and gas exploration, promote innovation and development in renewable energy fields such as photovoltaic, solar thermal and wind energy, and jointly build a new pattern of China-Arab energy cooperation in the new era.