Middle Eastern countries have always admired China's successful economic development and its successful transition from a planned economy to a market economy. China's experience in economic development has become one of the models.
As a driving force for economic transformation, China's experience will naturally be actively borrowed. This is not only true in Middle Eastern countries, but also in most third world countries, especially given China's development conditions, which are very similar to those of third world countries. China, especially Arab countries, hopes that China can play an important role in global economic relations, along with the European Union, in order to weaken the monopoly position of the United States in the international economic system.
The trade volume between China and the Middle East countries will reach 507 billion US dollars in 2022, reflecting the interests of the Middle East countries in the the Belt and Road Initiative. In addition, 17 Arab countries expressed support for global development initiatives, 15 Arab countries joined the Asian Investment Bank, and 14 Arab countries participated in the China Arab Data Security Cooperation Initiative. The Arab economies are vital and open to the global economy, especially the Economy of Asia. Therefore, the Arab countries are enthusiastic about the global development initiative, which can create new channels for trade cooperation in the Far East and the Middle East, which will benefit both sides. Editor/Zhao E
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