China and Arab countries are mutually complementary and beneficial partners who are conducting win-win cooperation. For years, the economic and trade cooperation between China and Arab countries has maintained a healthy and stable momentum of development, bringing tangible benefits to people on both sides.

In recent years, despite the double challenges posed by international financial crisis and the massive changes taking place in regional situations, the trade between the two sides still shows robust growth, featured by an increasingly expanding scale of mutual investments and continuous cooperation in areas like infrastructure construction.

First, a rapid-growing bilateral trade. The past five years have seen a momentum of growth in China-Arab bilateral trade, with the annual growth rate approaching 30 percent. In 2011, the bilateral trade volume approached $200 billion, up 35 percent year on year and hitting another historical high. In 2012, the bilateral trade volume reached $222.4 billion, up 14 percent and also hitting a historical high. China's export to Arab countries was valued at $91.3 billion and its import from Arab countries at $131.1 billion. China and Arab countries have already become each other's important trade partners. Chinese textile products and clothes, machinery equipment, electronic products, domestic appliances and daily commodities are very popular with Arab consumers. Chinese automobiles have also become important vehicles in their daily lives. Arab countries' export to China is becoming increasingly plentiful. In addition to crude oil, petrochemical and fertilizer, products like marble, olive oil and sesame are also gradually entering the Chinese market.

Second, advancing investments in Arab countries. In recent years, with continuous development of the Chinese economy, Chinese enterprises are speeding up their pace of going global, with their investments in Arab countries growing fast. In 2012, China's investments in Arab countries reached $1.4 billion, up 120 percent over the same period last year. Meanwhile, these investments are expanding from resource exploitation, light industry, textiles and clothes to machinery manufacturing and auto assembly, etc. They have contributed to the development of local industries and offered a large amount of job opportunities to locals. TEDA Investment Holding Co., Ltd. and China-Africa Development Fund have jointly invested in building an economic cooperation zone in the Suez Canal region in Egypt. By now, 34 Chinese companies have settled down there, employing about 1,000 locals, greatly pushing forward the development of industries like oil drilling, rig assembling as well as textile and clothing. Haier Group has set up a joint venture in Jordan, engaged in domestic appliance production and sales, employing more than 800 locals. Every year, the venture produces 100,000 refrigerators, 300,000 TV-sets and 150,000 washing machines.

Third, expanding investment in China. Arab countries pay much attention to investment cooperation in China by actively participating in large influential programs. For example, Saudi Aramco has bought into a refining-chemical integration project in Fujian while Saudi Basic Industry Corporation has bought into large-scale ethylene projects in north China's Tianjin, with Tunisian companies having invested in fertilizer projects in north China's Qinhuangdao City, etc. Arab countries' investments in China cover areas such as petrochemicals, trade, logistics, as well as machinery manufacturing etc. In 2012, their actual investment volume reached $230 million, up 77 percent year on year. Besides, financial institutions of Arab countries in the Persian Gulf region also hold a large amount of shares in Chinese financial institutions and enterprises listed in Hong Kong and other places. Qatar and Kuwait have already obtained an investment quota of about $1 billion for their sovereign investment funds.

Fourth, outstanding cooperation achievements in infrastructure construction. As Arab countries accelerate their pace in infrastructure construction, more and more Chinese companies are actively participating in it, helping promote local economic and social development. By now, the turnover of projects finished by Chinese companies in these countries has surpassed $100 billion, with more projects being covered by Chinese construction. In the beginning, Chinese companies were mainly engaged in the construction of houses, roads and bridges, while nowadays, they have expanded the businesses in oil pipelines, communications, port building and construction materials, etc, with high scientific content and equipment levels. A number of big projects have already been finished and put into operation, such as the East-West Highway in Algeria, the Merowe Dam in Sudan and the cement production line in Saudi Arab, etc. They are playing an important role in local economic and social development.

Fifth, prospect of China-Arab future cooperation. Both belonging to the developing camp, China and Arab countries are making great efforts to boost their economic development. China is working hard to push forward a transformation of its economy, trying to build up the "upgraded version of the Chinese economy." Many Arab countries are undergoing changes and adjustments, with a view to realizing better development. At the critical stage of economic transformation and upgrading, both sides are seeking more and more common interests and mutual help more than ever before. The two sides are increasingly complementary to each other in terms of resources, market, technology, management and human resources. The two sides' cooperation in trade, investment, projects and so on will keep on deepening and growing, while cooperation in the service sector, agriculture, the halal industry, finance, logistics, new energy, energy conservation and environmental protection will be further explored. Looking into the future, the mutually beneficial and friendly cooperation between China and Arab countries will surely realize comprehensive development in more extensive space and at a higher level.