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5th China-Arab energy cooperation forum ends

Reporter: Xu Zhen 丨 CCTV.com

10-28-2016 16:17 BJT

The fifth energy cooperation forum involving China and the Arab countries has wrapped up in Beijing. 

Participants in the three-day event said China and the Mideast countries need to restructure their economies. The participants also said the two sides should broaden their cooperation channels from just oil and natural gas to include power generation and green and nuclear energy.

The Arab countries are key energy suppliers to China and accounted for more than 40 percent of China's oil imports last year. China and the Arab countries now want to continue their ties and diversify their cooperation.

Saudi Arabia Deputy Minister for Electricity Saleh Al-Awaji said: "China is our No.1 trade partner. Arab countries are rich in natural resources. I hope the meeting will push forward the energy cooperation between China and Arab countries."

"The energy-dependent model is not favorable for Arab countries, as oil prices fall. These countries also need to develop their refining and chemical industries. Chinese companies are very strong in these sectors, and we are also good at the machinery and construction businesses. We are willing to share our expertise with our partners in the area, and achieve common development for both sides. " Lyu Dapeng, Sinopec spokesperson said.

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