【CONTENTS】
I. Pakistan, China strengthen economic ties with 350 mln USD MoUs at trade fair: foreign office
II.ADB approves 109.5 mln USD in financing to Kyrgyzstan
III.China, Bulgaria eager to deepen business cooperation
IV. China, UAE embrace broader prospect in economic, trade cooperation with burgeoning new opportunities
I. Pakistan, China strengthen economic ties with 350 mln USD MoUs at trade fair: foreign office
ISLAMABAD, Sept. 19 (Xinhua) -- The Pakistan Ministry of Foreign Affairs said on Thursday that the recent signing of two memorandums of understanding (MoUs) between Pakistani and Chinese companies at the China International Fair for Trade in Services strengthened economic ties between the two countries.
Mumtaz Zahra Baloch, spokesperson for Pakistan's Foreign Office, told a weekly media briefing that the two MoUs with a combined value of over 350 million U.S. dollars signed during the fair reflected the ongoing strengthening of Pakistan-China economic relations.
The spokesperson said that these MoUs were based on the positive trajectory of Pakistan-China economic ties spanning over decades.
Baloch said that Pakistani Prime Minister Shehbaz Sharif's participation in a Pakistan business and investment conference in Shenzhen resulted in multiple business-to-business agreements, 16 of which have already been operationalized.
"These agreements underscore Chinese investors' confidence in Pakistan's market and highlight Pakistan's role as a key regional partner," the spokesperson said.
The spokesperson said continued collaboration between Pakistan and China in the economic domain will foster job creation, technological advancement and capacity building in Pakistan while offering Chinese companies access to the Pakistani market.
(2024-09-20 Source: Xinhua News Agency)
II. ADB approves 109.5 mln USD in financing to Kyrgyzstan
MANILA, Sept. 19 (Xinhua) -- The Asian Development Bank (ADB) Thursday said it has approved 109.5 million U.S. dollars in financing to fund a road project around the Issyk-Kul Lake, one of the most popular tourist destinations in Kyrgyzstan.
The Issyk-Kul Ring Road Improvement Project will construct 75.2 kilometers of the national road traversing the Barskoon to Karakol section of the Issyk-Kul Ring Road, which adjoins the Central Asia Regional Economic Cooperation Corridor 1.
The ADB said the project will widen the two-lane roadway to four lanes to meet increasing traffic demand while incorporating climate-adaptation measures into the road design and construction materials.
Rest areas, bus stops, streetlights as well as safer access for pedestrians, will also be provided, the Manila-based bank said.
"Road transport is a major driver of economic growth in landlocked Kyrgyz Republic," said ADB Director General for Central and West Asia Yevgeniy Zhukov.
"By improving road conditions, this project will enable the safe and reliable movement of people and goods, increase access to essential services, and spur job creation and livelihoods," said Zhukov.
(2024-09-19 Source: Xinhua News Agency)
III. China, Bulgaria eager to deepen business cooperation
SOFIA, Sept. 12 (Xinhua) -- Senior government officials and business representatives of China and Bulgaria expressed their desire here on Thursday to deepen bilateral economic cooperation.
The statements were made at the opening ceremony of the three-day event "China Premium Products and Services Exhibition and Business Matchmaking" held in the National Palace of Culture in Sofia.
Nearly 30 Chinese companies, including leaders in technology, innovation, digitization, banking, logistics, transportation and energy, participated in the event dedicated to the 75th anniversary of diplomatic relations between China and Bulgaria.
At the opening ceremony, Bulgarian President Rumen Radev said that China has established itself as a strategic partner of Bulgaria in recent years, noting the significant potential of bilateral cooperation.
He highlighted great prospects for cooperation in sectors such as automotive, information and communication technologies, robotics, and agriculture.
Chinese Ambassador to Bulgaria Dai Qingli said that Chinese enterprises have participated in the investment and construction of photovoltaic projects in Bulgaria, and Bulgarian companies are exploring the possibility of importing Chinese electric vehicles.
Dai said she hoped that Chinese enterprises in this field would consider investing and building factories in Bulgaria.
Petko Nikolov, Bulgaria's minister of economy and Industry, said his country would continue to expand commercial and industrial relations with China.
Biser Minchev, deputy minister of transport and communications, called China an important partner. He said the two sides can expand bilateral cooperation to establish efficient, reliable and sustainable transport links and supply chains.
"The ambition we set for ourselves today, through this event, is to open a new page in the development of relations between the two countries, emphasizing economic and scientific and technical cooperation," said Zahari Zahariev, chairman of the Bulgaria National Association for the Belt and Road, which organized the event jointly with the Chinese Embassy in Bulgaria.
Atanas Todorov, general manager of the Bulgarian branch of China's ZTE, one of the exhibitors, told Xinhua that by cooperating with local leading telecoms in Bulgaria, ZTE has started its first green energy project outside China, which is based on solar technology and the latest smart lithium-ion batteries.
Nikolay Nedyalkov, chief executive officer of Bulgarian company Bulavto, joined many Bulgarian business representatives here to seek Chinese partners, with a great interest in Chinese electric vehicles, including cars, light trucks, trucks, and buses.
He said he hopes to become a representative of these products in Bulgaria, adding that if Chinese investors come here and assemble their vehicles here, his company is big enough for this.
Sharing a similar sentiment, Chavdar Minchev, vice president of the association "Forum for Balkan Transport and Infrastructure," told Xinhua his goal is to sign contacts with Chinese companies in transport and logistics and create cooperation opportunities in this field.
Virginia Palazova, general manager of travel agency Calisto Tours, expressed her willingness to partner with the Chinese counterparts. Regarding an appointment on schedule, she said she hoped it would be "successful."
(2024-09-13 Source: Xinhua News Agency)
IV. China, UAE embrace broader prospect in economic, trade cooperation with burgeoning new opportunities
Chinese Premier Li Qiang pointed out that China and the UAE are good partners on the path of common development. It is in the fundamental interests of both sides to strengthen cooperation and help each other succeed.
DUBAI, Sept. 13 (Xinhua) -- With bilateral trade flourishing across various sectors, China and the United Arab Emirates (UAE) are making concerted efforts to explore new paths for cooperation, aiming for further win-win outcomes and strengthening their comprehensive strategic partnership.
This focus was underscored during Chinese Premier Li Qiang's visit to the UAE, which concluded on Friday. In meetings with UAE leaders and business representatives, both sides expressed a strong will and offered valuable suggestions to enhance economic and trade collaboration while marking 40 years of diplomatic relations.
While meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan on Thursday, Li noted that China is willing to further expand the scale of bilateral trade with the UAE and explore cooperation in new energy, electric vehicles, high-end manufacturing, biomedicine, digital economy and other fields.
He hoped that the two countries could jointly make a forward-looking layout of emerging and future industries to cultivate more new economic growth points.
For his part, Mohamed said the UAE looks forward to closer exchanges at all levels with China, giving full play to the mechanism of the high-level committee on China-UAE investment and cooperation, deepening practical cooperation in economy, trade, investment, energy, health, education, and other fields.
During talks with the UAE's Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, Li pointed out that China and the UAE are good partners on the path of common development. It is in the fundamental interests of both sides to strengthen cooperation and help each other succeed.
Li said China is willing to share development opportunities with the UAE for better mutual benefit, welcoming more UAE investment in China and encouraging Chinese enterprises to invest and do business in the UAE.
Also on the premier's visit agenda was the UAE-China Business Forum, which was held in Dubai on Thursday. Over 200 representatives from the governments, chambers of commerce, and businesses of both countries attended.
While addressing the forum, Li said bilateral ties have matured over the past 40 years, and economic and trade cooperation has yielded strong results.
China has been the UAE's largest trading partner for many years. The UAE is China's largest export market and second-largest trading partner in the Middle East.
Official data showed bilateral trade between China and the UAE reached 94.98 billion U.S. dollars in 2023. In the first half of 2024, the figure reached nearly 50.11 billion dollars.
Behind such success lies a profound inevitability, Li noted. As China-UAE economic and trade exchanges have spanned over a millennium, both countries have actively embraced economic globalization and worked together to create development miracles through opening-up.
The premier called on enterprises from both countries to seize the new opportunities of high-quality Belt and Road cooperation and identify more areas of shared interests and opportunities for collaboration from the intersection of their strategic priorities.
He also urged both sides to jointly seize the burgeoning opportunities in technological and industrial innovation, and harness innovation as a driving force.
UAE business representatives spoke highly of China's development dynamism and market potential at the forum, expressing their eagerness to increase investment in China and expand cooperation with their Chinese partners.
In his speech, Chairman of Dubai Chambers Abdul Aziz Abdulla Al Ghurair hailed China as a crucial market for the UAE business community and a preferred partner for UAE enterprises.
Recognizing the growing significance of the Chinese market, the Dubai International Chamber has opened three overseas offices in China: Shanghai, Shenzhen, and Hong Kong, the highest number of offices in any single country.
UAE Minister of Economy Abdulla bin Touq Al Marri shared recent data highlighting the vibrancy of economic exchanges: The UAE is now home to about 15,500 Chinese businesses, and the number of flights between the two countries operated by the UAE's national carriers has reached 44 per week, he noted.
The minister invited Chinese enterprises to fully explore the growing opportunities brought by the UAE's increasingly favorable business environment to scale up investments, particularly in emerging industries.
"We are confident that our shared visions and strategies to expand cooperation into new economic sectors will further strengthen and elevate our economic and investment relations," Al Marri said.
(2024-09-14 Source: Xinhua News Agency)
