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The H1 revenue stood at $2.72 billion.

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The company posted a net profit of $692m.

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In its pivot to East, GCC solidifies trade ties with China

By TRENDS Desk
December 20, 2022 1:31 pm
  • China became the largest trading partner of the GCC in 2020
  • Its trade volume with the GCC reached about US$180 billion, accounting for more than 11% of the GCC's total foreign trade

Dubai, UAE— Trade relations between the Gulf Cooperation Council (GCC) and China have been growing in recent years. As the world’s biggest energy consumer, China has been a major trade partner for the GCC oil and gas producers.

China became the largest trading partner of the GCC in 2020.

Its trade volume with the GCC reached about US$180 billion, accounting for more than 11% of the GCC’s total foreign trade.

China is also the largest export destination for GCC petro-chemicals, accounting for more than 25% of the total exports of related products.

But it’s more than oil. 

The vaccine cooperation among China, UAE and Bahrain has covered more than 44-thousand people in the region. There has also been cooperation in telecommunications, artificial intelligence and smart cities.

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