Arab-Chinese cooperation 'valuable' opportunity to lure investment in Arab region: AL chief

Abul Gheit's remarks came during his participation in the opening of the 10th session of the Arab-Chinese Businessmen Conference and the 8th session of the Investments Symposium hosted by the Saudi Investment Ministry in Riyadh. 

Such an event takes on importance in light of the negative consequences of the slow-paced global growth and the Russian-Ukrainian crisis, he added. 

Abul Gheit further said that the investment opportunities in the Arab region are promising, despite remaining a weak magnet for foreign capital flowing to it compared to other geographical areas. 

The pan-Arab body gives top priority to improving the Arab investment climate, he affirmed. 

Arab countries depend on the Unified Agreement for the Investment of Arab Capital, Abul Gheit said, adding that efforts are underway to prepare a new draft of the agreement in cooperation with a specialized international institution. 

He also highlighted the longstanding ties between the Arab countries and China.

Furthermore, Abul Gheit hailed the efforts exerted by Saudi Arabia to prepare for the event in cooperation with the pan-Arab body and all the partners.