Guangzhou, China – China is committed to enhancing trade and investment ties with the Gulf Cooperation Council (GCC) as part of their efforts to advance Belt and Road cooperation to a new level of higher quality and development, China’s Minister of Commerce, Wang Wentao, said on Sunday, Xinhua reported.
The announcement came during a meeting in Guangzhou which gathered economic and trade ministers from China and the six member states of the GCC.
During the meeting, both sides pledged to align Belt and Road cooperation with the development strategies of GCC member countries and expand collaboration in key areas, including the digital economy, sustainable development, and infrastructure projects.
China is set to work toward establishing a free trade agreement with the GCC, support the exchange of sovereign wealth funds between the two parties, and explore potential infrastructure collaborations encompassing ports, aviation, communications, and pipelines.
The meeting resulted in a comprehensive consensus on various important issues, including jointly upholding the multilateral trading system, promoting reciprocal investment, deepening cooperation in industrial and supply chains, enhancing connectivity, and advancing energy transformation.
