China overtaking U.S. as Gulf states’ top economic partner

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Special to WorldTribune.com

Geostrategy-Direct.com

ABU DHABI — China and the Gulf Cooperation Council have pledged to form a strategic alliance.

Chinese President Xi Jinping delivers a keynote speech on the relations and cooperation between China and Arab states at the 2014 China-Arab Cooperation Forum on June 5. /www.news.cn
Chinese President Xi Jinping delivers a keynote speech on the relations and cooperation between China and Arab states at the 2014 China-Arab Cooperation Forum on June 5. /www.news.cn

Officials said Beijing planned to significantly increase investment in the six-member GCC.

They said China was replacing the United States as the leading economic partner of the Middle East.

“It is also a major event in the course of Sino-Arab relations,” Chinese Foreign Minister Wang Yi said.

On June 5, Beijing hosted the China-Arab Cooperation Forum, launched in 2004 and reflecting China’s dependency on Arab oil.

The forum was credited for helping bolster relations, including an eight-fold increase in trade that reached $239 billion in 2013.

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