China meets Gulf oil bloc with sights set on free-trade agreement and energy security
- High-level delegation of Gulf Cooperation Council members visited China this week and agreed that conditions are ripe for a strategic partnership
- However, few specifics are given on potential energy cooperation, and previous rounds of talks and strategic dialogues failed to produce such a free-trade agreement
As China scrambles to ensure a stable supply of energy, Beijing is looking to boost bilateral relations with oil-abundant Gulf countries by entering into a strategic partnership and expediting the implementation of a free-trade agreement.
“The two sides agreed that the conditions are ripe to establish a strategic partnership. We will accelerate the process and elevate bilateral relations to a new level,” the Chinese foreign ministry said after Tuesday meeting’s between GCC Secretary General Nayef Falah Al-Hajraf and Chinese Foreign Minister Wang Yi.
The ministry said both sides agreed to negotiate a bilateral free-trade agreement as soon as possible, after nine rounds of talks since 2004.
“We will leverage the geographical advantages of GCC countries,” the statement said. “We will share China’s vast market opportunities, help GCC countries become regional logistics and shipping hubs, and attract more capital and technology investment to the Gulf region.”