Dubai: Chinese Premier Wen Jiabao struck a cautious note about the world economy yesterday during the opening of the fourth session of the Ministerial Meeting of the China-Arab Cooperation Forum in Tianjin, adding that the global financial crisis was leading to "profound changes in the international balance of power".
Foreign Minister Shaikh Abdullah Bin Zayed Al Nahyan is leading the UAE delegation to the meeting, which is being attended by foreign ministers and heads of delegations of Arab states, Secretary General of the Arab League, Amr Mousa, and Chinese Foreign Minister Yang Jiechi.
The forum will explore ways for the continuous development of China-Arab relations and regular consultations on regional and international issues.
Strong dialogue
Wen said in his inaugural address the forum is an important step in strengthening dialogue and cooperation with various Arab countries, noting that in the six years since its inception, the forum has played a pioneering role in strengthening relations between the two sides.
He said Beijing would boost imports of non-oil goods from the region, and would also "deepen cooperation both upstream and downstream in the oil and gas sectors" with Arab countries. China surpassed the US last year as the biggest importer of Saudi oil. Two-way trade between Arab nations and China has surged from $36.4 billion (Dh133.6 billion) in 2004 to $107.4 billion (Dh394.1 billion) in 2009, Wen said.
Wen said the sovereign debt crisis in European countries is "deepening" and the foundations of a global recovery are not yet "solid". "We should recognise that as a result of this once-in-a-century financial crisis, the world political and economic landscape is undergoing major adjustments and transformation."
Mousa commended China's stance on supporting the establishment of an independent Palestinian state, and its rejection of Israeli colony-building.
He expressed hope that China would join the International Quartet and work within the UN framework to help accomplish peace in the Middle East.
— With inputs from WAM & Bloomberg
