(MENAFN) Saudi Arabia has emerged as China's largest trading partner in West Asia and Africa, with the value of Chinese investments abroad expected to reach USD1.25 trillion within the next 10 years, Arab News reported.
China, which has been able to maintain its economy in a stable state through a growth strategy which focuses on interactions and bilateral arrangements with the global economy, said that the value of Chinese imports is expected to reach USD10 trillion in the next five years, while the number of Chinese tourists is expected to exceed 500 million.
"China is working to move the process of establishing the Free Trade Area of the Asia-Pacific in the current year. Approval of APEC members in the roadmap represents a historic step for the official launch of this process and emphasizes the APEC confidence and determination to push forward regional economic integration," The Chinese Ambassador in Saudi said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.