Chinese-Arab Trade Hit $244 Bn in 2018
September 7, 2019, 12:24 pm

Chinese-Arab Trade Hit $244 Bn in 2018

The third round of the four-day China-Arab States Business Summit was concluded Friday in Yinchuan, capital of northwest China's Ningxia Hui Autonomous Region.

The summit was held on the sidelines of the fourth China-Arab Expo, entitled “Promoting Economic and Trade Exchanges and Propelling Practical Cooperation.”

The event was attended by around 500 representatives from government agencies, chambers of commerce, business associations and enterprises from China and Arab states, as well as other countries along China’s Belt and Road Initiative (BRI).

It was organized by the China Council for the Promotion of International Trade (CCPIT), Ningxia Region’s government, the Secretariat of the Arab League and the General Union for the Chambers of Commerce, Industry and Agriculture in Arab Countries.

Vice Chairman of the CCPIT Chen Jian’an said the BRI is a new platform for Chinese-Arab cooperation, thanks to the strong bilateral economic integration.

“We are willing to promote external trade and two-way investments with Arab states in order to pursue win-win cooperation so that businesses can conduct exchange and dialogues,” Jian’an said during his opening speech.

He noted that the volume of trade between China and Arab countries amounted to $244.3 billion in 2018.

Chinese companies also signed $35.6 billion worth new contracts for construction projects in Arab countries and invested $1.2 billion directly in Arab countries during the same year.

Head of the Arab League’s Representative Office in Beijing Mahmoud Hussein El Amin said in a speech that the BRI is one of the most significant initiatives over the past decades, given its inclusiveness and concept that combine innovation and development.

He pointed out that this initiative has contributed to facilitating the flow of goods, services and trade exchange, adding that it will change the nature and size of fruitful cooperation and bolster development and well-being in large parts of the world.

“The Arab League, as an institution for joint Arab action, will continue its efforts to enhance dialogue, cooperation and communication to implement development strategies and policies and to promote cooperation and coordination between the BRI and development policies for both sides,” Amin stressed.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”