China makes breakthrough developing linkages with Arab World: Analysts

MyCountry - My Country A Creative News Agency - www.mycountry.com.pk
MyCountry - My Country A Creative News Agency - www.mycountry.com.pk

BEIJING, China is stepping up cooperation with the Arab world. The recent China-Arab States Cooperation Forum (CASCF) was aimed at deepening economic and security cooperation between Beijing and Arab countries of the Middle East and North Africa within the framework of the One Belt, One Road project, analysts said.

 China has outlined a “future-oriented strategic partnership of comprehensive cooperation and common development” for Arab countries — something that no other country has offered to the region — during the eight ministeral meeting of the China-Arab States Cooperation Forum (CASCF) that was held on July 10 in Beijing.

Beijing has offered Arab states a $20 billion loan for the industrial development and restoration of their economies. China is due to create a Sino-Arab interbank association, which will allocate $3 billion for the financial sector.

 The Russia academic emphasized Xi’s idea of the unified fate of China and the Arab countries. Referring to the Beijing Declaration, an analyst said, the Action Plan for 2018-2020 and the Declaration of Action on China-Arab States Belt and Road Cooperation.

According to The South China Morning Post, “Beijing will also further explore the possibility of free-trade deals with each of the 22 states in the Arab League,” a regional association of Arab states in North Africa, the Horn of Africa and Arabia.

“In his speech, Chinese President Xi Jinping stressed that China promotes economic recovery through industrial revival and grants loans to Arab countries on a commercial basis to implement trade and economic projects,” Wang pointed out.

Meanwhile, it was announced that Syria, Jordan and Yemen would receive humanitarian aid of $90.5 million from Beijing, while $15 million would be provided to the Palestinians in the form of economic and humanitarian support. At the same time, Beijing promised that it would assist the Palestinian National Authority in promoting its diplomatic interests at the United Nations.