China's trade ties with West Asia should continue to strengthen

This report (Reporter Lin Chang): The West Asia and Africa Research Institute of the Chinese Academy of Social Sciences and the Social Science Literature Publishing House recently jointly released the "Yellow Book of the Middle East: Middle East Development Report No.25" (hereinafter referred to as the "Yellow Book"). The Yellow Book believes that the Chinese government and enterprises should continue to strengthen and expand trade with West Asia. The Yellow Book suggests actively paying attention to and doing the following work well.
Actively monitor the impact of the reduction in crude oil production in West Asia on the global trade market pattern. In 2023, oil producing countries in West Asia have announced voluntary production cuts, which will inevitably continue to push up inflation levels in Europe and North America; Inflation means that interest rates will inevitably rise, and several banks in the United States have already fallen into financial difficulties due to high interest rates. It is recommended that the Chinese government and enterprises continue to actively pay attention to and make relevant judgments, pay attention to whether the Ukrainian crisis and the subsequent reduction of oil and gas production will affect the operation of world trade, and whether it will affect China's energy supply and demand, and prepare in advance for response.
Actively expanding the export of Chinese electromechanical products in the West Asian market. The export volume of several electromechanical products in China, especially those related to the new energy industry, is growing rapidly, and West Asia is a market worthy of attention for electromechanical products. It is recommended that Chinese enterprises continue to combine economic and trade actions such as foreign investment, engineering contracting, and exhibitions to fully tap into the potential of China's mechanical and electrical products for export in West Asia.
Actively pay attention to the post-war reconstruction or post conflict reconstruction of some countries in West Asia. Looking at different countries, Chinese manufactured products have a high market share in Iran and Syria. These countries have experienced an overall decline in international trade due to the turbulent situation, but currently they have a high preference for Chinese products in terms of product selection. Therefore, it is recommended to actively pay attention to the political and security situation of the above-mentioned countries, and seize the potential economic and trade market opportunities it may bring.