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China Urges Gulf Nations To Seal Free Trade Agreement

Samantha Luan
Summary:

China's foreign minister has pressed the Gulf Cooperation Council to conclude long-running talks on a free trade agreement with China, attributing the urgency to rising protectionism and unilateralism as free trade comes "under attack", according to a Monday statement from the ministry.

Key points:

· China tells GCC conditions are ripe for free trade deal
· FM Wang Yi says China-GCC FTA will signal importance of free trade
· China, Saudi seek closer coordination on wider diplomacy, security issues
· Wang emphasises energy and investment cooperation with Saudi Arabia

China's foreign minister has pressed the Gulf Cooperation Council to conclude long-running talks on a free trade agreement with China, attributing the urgency to rising protectionism and unilateralism as free trade comes "under attack", according to a Monday statement from the ministry.

Chinese Foreign Minister Wang Yi is on a three-nation tour in the Middle East that began in the United Arab Emirates and is expected to end in Jordan. He met GCC Secretary-General Jasem Mohamed Albudaiwi in Riyadh on Sunday, when he also met top Saudi officials separately.

"The talks have lasted for more than 20 years, and conditions for all aspects are basically mature, it is time to make a final decision," he said during a meeting with Albudaiwi, according to the Chinese foreign ministry.

A successful FTA will send a "strong signal to the world about defending multilateralism," Wang said, adding that China was supportive of the bloc strengthening its strategic autonomy and coordination, and advancing its integration process.

China has interests in deepening cooperation in economy, trade, investment and other fields with the GCC as well, Wang said.

CLOSER COORDINATION WITH SAUDI

China and Saudi Arabia agreed to closer communication and coordination on regional and international issues, with Beijing lauding Riyadh's role in Middle East diplomacy and security, other statements following a meeting between the nations' foreign ministers showed.

Wang's meeting with Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al-Saud also took place on Sunday in the Saudi capital.

A joint statement published by China's official news agency Xinhua did not elaborate on the issues where the two countries would strengthen coordination, but mentioned China's support for Saudi Arabia and Iran enhancing their relations as well as support from both sides for the "comprehensive and just settlement" of the Palestinian issue.

"(China) appreciates Saudi Arabia's leading role and efforts to achieve regional and international security and stability," said the statement released on Monday.

Wang told his Saudi counterpart that China regarded Saudi Arabia as a "priority for Middle East diplomacy" and an important partner in global diplomacy, a Chinese foreign ministry statement on Monday said.

He also encouraged more cooperation in energy and investments, as well as in the fields of new energy and green transformation.

In a separate meeting with Saudi Crown Prince Mohammed bin Salman, Wang underscored China's readiness to play a part as the "most reliable partner" in the Middle Eastern country's revitalisation, as well as "inject more stabilising factors" to realise peace and security in the region, another foreign ministry statement showed.

The countries have agreed to mutually exempt visas for diplomatic and special passport holders from both sides, according to the joint statement.

Source: TradingView

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