Sino-Arab cooperation forum focuses on energy

The two-day Sino-Arab entrepreneurs' conference attracted over 1, 000 entrepreneurs and government representatives from China and Arab countries. The conference covers energy, finance and investment, machinery and electronic products, light industry, communications, auto, medicine, construction and project contracting.

The conference is the first large-scale, high-level and all-around dialogue between China and Arab countries, in which agreements with a total value of US$400 million were signed, including that on Gulf-China fund program and power station project north Sudan's Khartoum.

With expanding Sino-Arab trade, project contracting and labor cooperation started and expanded with increasing investment cooperation.

According to statistics from China's Ministry of Commerce, China has totally made US$231 million of direct investment in Arab countries and Arab countries US$718 million in China.

The energy cooperation between China and Arab is another focus of people's concern. In the past five years, China bought nearly 200 million tons of crude oil from Arab countries, closed to half of the country's total import.

By People's Daily Online