Xi Jinping emphasizes stronger China-Arab ties amid growing influence
Chinese President Xi Jinping presented his vision for deepening relations with Arab countries. He seeks cooperation in finance, technology, and artificial intelligence. During the China-Arab States Cooperation Forum in Beijing, he also emphasized the importance of peace and stability in the world.
China aims to strengthen ties with the Arab world. In his speech at the China-Arab States Cooperation Forum in Beijing, President Xi Jinping highlighted that China is ready to enhance cooperation with Arab countries on many fronts. As the Chinese leader pointed out, the potential areas of collaboration include finance, technology, artificial intelligence, and green solutions, reports Bloomberg.
Referring to the ongoing conflict between Israel and Hamas in the Gaza Strip, Xi Jinping emphasized that "The war should not continue indefinitely. Justice should not be absent forever." He noted that China supports Palestine's membership in the UN and the organization of a peace conference to help end the fighting.
Intensification of economic cooperation
Recently, China has significantly intensified its diplomatic efforts in the Middle East. Beijing was crucial in negotiating an unexpected agreement between Saudi Arabia and Iran in 2023. The détente in relations between these two rival Islamic states persists despite tensions related to the war in the Gaza Strip.
Beijing-based Lenovo Group announced a deal on Wednesday to sell US$2 billion of convertible bonds to Saudi Arabia’s sovereign wealth fund, and build research and production facilities in the kingdom. State oil firm Saudi Aramco is in talks to buy a US$1.5 billion stake worth in a Chinese petrochemical firm, while carmaker China FAW Group is part of a push to make electric vehicles in Egypt - writes The Business Times after Bloomberg.
Chinese influence in the region is growing
Leaders from Egypt, the United Arab Emirates, Bahrain, and Tunisia will attend the forum in Beijing. It is expected that the discussions will focus on the rapidly growing trade and investment exchanges as well as regional security issues in the context of the war between Israel and Hamas.
While the administration of US President Joe Biden supports Israel in this conflict, China advocates for an immediate ceasefire and the recognition of the Palestinian state.
The alliance with Arab countries helps Beijing expand its political influence in countries that have recently viewed China primarily as an economic partner. It is also a way to gain new allies in the global competition for influence with the US.
China is not interested in Putin's flagship gas project
Reports of China's rapprochement with the Arab world are significant in the context of recent reports about the Beijing-Moscow relationship. According to Mikhail Krutikhin, a Russian energy expert, the Power of Siberia 2 pipeline project, pushed by President Vladimir Putin, did not meet with enthusiasm from the Chinese side during the last meeting of the leaders of both countries in Beijing - reports The Moscow Times.
During Vladimir Putin's recent visit to Beijing, China showed no interest in the Power of Siberia 2 pipeline project, which would deliver Russian gas through Mongolia - reads "The Moscow Times." According to Mikhail Krutikhin, a Russian energy expert (living in Oslo), this became clear even before the arrival of the Russian delegation in the Chinese capital.
