China, Arab countries trade aim to hit $200b by '15

BEIJING - How to achieve the goal of $200-billion trade volume by 2015 is an important topic for participants of a sub-forum of the ongoing 2nd China-Arab States Economic and Trade Forum held in Ningxia.

More than 400 officials, investors, contractors, entrepreneurs and executives from China and the Arab countries attended the forum.

The Arab world is of great significance for China's "market diversification" strategy and "going global" strategy. There are 1.6 billion people in China and the 22 Arab countries. The economic and trade cooperation between the two has achieved positive progress in terms of bilateral trade, project contracting, labor cooperation, two-way investment and personnel training.

Trade volume between China and the Arab countries totalled $145.42 billion in 2010, up nearly 30 percent year-on-year since 2004. Mutual direct investment has added up to more than $5.5 billion.