MOU to build new bridge for trade balance between China and Arab: Jordanian Senator

Na’el Raja Al Kabariti, President of General Union of Chambers of Commerce, Industry and Agriculture for Arab States, delivers a speech at the opening ceremony of China-Arab States Expo in Yinchuan, northwest China’s Ningxia Hui Autonomous Region on September 6, 2017. [Photo: Photo provided to China Plus/Huang Gengsheng]

At the 7th China-Arab Business Conference and 5th Investment Seminar on Wednesday, 17 international organizations from China, Arab States and Africa signed 12 agreements and Memorandums of Understanding to invigorate cooperation among these countries.

Jordanian Senator Na'el Raja Al Kabariti, also President of the General Union of Chambers of Commerce, Industry and Agriculture for Arab States, is one of those who signed the Memorandum of Understanding with the China Council for the Promotion of International Trade.

He says the MoU acts as a bridge between the two sides.

"You know, every relationship has to start from somewhere, and MOU is the start for building a new bridge to increase the trade balance between both countries. And it's not just for trade balance, but also cooperation of knowledge and exchanging some point of views about how to increase new mechanism, and how to develop new business between both sides."

Photo taken on September 6, 2017 shows the Ningxia International Hall in Yinchuan, capital city of Ningxia Hui Autonomous Region. China-Arab States Expo kicked off in the northwestern Chinese city and will last for four days from September 6 to 9. Representatives from 47 countries and regions will assemble, along with executives from 1,080 companies and nearly 5,000 exhibitors covering 31 industries ranging from transportations to big data.[Photo: Photo provided to China Plus/Huang Gengsheng]

In his speech at the opening ceremony of the conference, he mentioned that the friendship between China and Arab States can be dated back to thousands of years ago, and he expects more and more advanced and high-tech investments from China to be imported to Arab States in the future.

He says China's innovation and creativity is most impressive.

"(What impressed me is) the fast development in China, not just the development of buildings and constructions, (but also) the development of mentality, which is very important. Today, if you look at China, we will find China starts to become well ideas come. Before it was a copy, but now China is the leader of inventing new ideas and new technology. That was what I'm impressed most about China recently."

Foreign representatives attend the opening ceremony of China-Arab States Expo in Yinchuan, northwest China’s Ningxia Hui Autonomous Region on September 6, 2017. The expo will last for four days from September 6 to 9. Representatives from 47 countries and regions will assemble, along with executives from 1,080 companies and nearly 5,000 exhibitors covering 31 industries ranging from transportations to big data.[Photo: Photo provided to China Plus/Huang Gengsheng]

Kabariti also expects that the Belt and Road Initiative will help the Arab States to prepare for the fourth industrial revolution.

"We always look the trade balance as the major issue. Maybe the rebuilding of the Silk Road would increase the trade balance, but that's not the question. To increase information of both countries, to increase partnership based on new technologies, and that's the future. The fourth industrial revolution is coming very soon, and both countries of us have to be ready for that."

The China-Arab Business Conference is held biennially by China and Arab States in turn. It's one of a series of conferences and forums held during the China-Arab States Expo, which will last for four days from September 6 to 9.

Chinese President Xi Jinping's congratulatory letter was read out at the opening ceremony on Wednesday morning.

Representatives from 47 countries and regions gathered here, along with executives from over a thousand companies and nearly 5000 exhibitors covering 31 industries ranging from transportation to big data.