Ties to strengthen with gcc

Commerce and economy ministers from China and member states of the Gulf Cooperation Council have agreed to further enhance ties in the energy sector and accelerate the examination process for a free trade agreement to put trade growth on a firmer footing amid the lackluster global economic setting.

Li Jinzao, China's vice-minister of commerce, said the country is one of the world's biggest oil importers, while the GCC states are the world's largest producers of crude oil, accounting for about 20 percent of the global supply and 40 percent of proven oil reserves.

"The Chinese government is not only encouraging capable Chinese companies to invest in the infrastructure and manufacturing sectors, but also offering new technologies to build advanced oil and gas storage and transportation facilities, and petroleum engineering solutions to the member states of the GCC," Li said.