China-Arab Trade Volume Hits $407.4 Billion in 2024Beijing, 30 Jul (ONA) — Trade volume between China and Arab countries rose by 2.3% year-on-year in 2024, reaching $407.4 billion, reinforcing China’s position as the Arab world’s top trading partner for consecutive years.
According to Chinese assistant minister of commerce, Yuan Xiaoming, Chinese exports to Arab countries totaled $206 billion, while imports from Arab countries amounted to $201.4 billion.
Yuan highlighted that economic and trade cooperation between China and Arab countries has achieved remarkable progress in recent years. Bilateral investments are steadily expanding and now include sectors such as metal smelting, building materials manufacturing, cotton textile production, and aquaculture. Additionally, Arab sovereign wealth funds and companies are increasingly investing in China’s petrochemical industry, new energy, and emerging technology sectors.
He also pointed to notable achievements in infrastructure cooperation, and emphasized the strong growth potential in emerging fields such as e-commerce, cloud computing, artificial intelligence (AI), and others.— Ends/Khalid