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  Economics
Arab Banks Union, Chinese Int'l Trade Council sign deal
21/04/2017 | LOC20:36
17:36 GMT
| Arab News
تصغير الخطالشكل الأساسيتكبير الخط
Arab Banks Union, Chinese Int'l Trade Council sign deal
Arab Banks Union, Chinese Int'l Trade Council sign deal
BEIRUT, April 21 (KUNA) -- The Union of Arab Banks (UAB) signed an agreement with China Council for the Promotion of International Trade on Friday to boost trade exchange, and cooperate in banking sector.
Sheikh Mohammad Jarrah Al-Sabah, pesident of UAB, who signed the agreement with the Chinese council president, said the deal would open new horizons of cooperation between Arab countries' economies and China.
AUB, which has more than 340 banks and financial institutions as members, will work hard to further expand Sino-Arab banking cooperation, he said.
President of the Chinese Council said Beijing was keen on promoting economic, trade and investment cooperation with the Arab countries.
He said the Chinese president has instructed the development of relations with the Arab countries at different levels, specially trade and economy.
UAB Secretary General Wessam Fattouh, speaking to KUNA, said today's agreement was part of UAB's strategy to promote inter-Arab cooperation as well as boosting Arab collaboration with international partners.
The agreement, he added, aimed at exchanging expertise and transfer of Chinese technology to Arab world.
Fattouh said China has shown interest in the past several years in the promotion of economic relations with the Arab countries. Today, he added, Beijing was keen on increasing trade exchange and banking cooperation. (end) wsm.bs
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