UAE ministers says China values ties more than oil

UAE Minister of Foreign Trade Lubna Bint Khalid Al Qasimi has said members of the China-Gulf Cooperation Council States Forum on Sustainable Development will look beyond oil and resources in future ties.

Lubna Bint Khalid Al Qasimi (right), foreign trade minister of UAE during an interview at the China-GCC States Forum on Sustainable Development in Abu Dhahi on Dec 12, 2012.

"Both GCC states and China should attach much importance to sustainable development," said Qasimi.

Trade between China and GCC states, which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE, reached $577 billion over the past ten years and talks are being held to boost that amount.

The economic ties between the two sides have developed far beyond the oil and resource, according to Qasimi.

At present, more than 800,000 Chinese work in GCC states and China has become a destination for GCC people to study, travel, shop, entertainment and medical service.

"We have a go-to-China strategy," said Qasimi. Each year, about 175 companies were sent to south China's Guangzhou to attend the annual Conton Fair seeking business opportunities, added the minister.

Thought half of China's oil import comes from the Gulf, the GCC states do not treat China as merely an oil export market, but also as a market for its metallurgy and chemical industry.

Guided by the strategy to diversified economy, the GCC states are making great efforts to develop their metallurgy and chemical industry, said Qasimi.

In future, both sides will have a lot fields to achieve common growth, especially in renewable energy exploitation and environment governance, she said

Qasimi also advised companies in China and GCC states should form a joint committee and a joint sovereignty fund should be founded between the two sides.

"I believe the forum will help built a bridge linking the GCC states and China," said Qasimi.