China-Palestine Relations – Bilateral Trade, Investment and Diplomacy – China Briefing News
China-Palestine Relations: Trade, Investment, and Diplomacy China Briefing
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China-Palestine Diplomatic Relations
China and Palestine established diplomatic relations in 1988, with China being one of the first countries to recognize Palestine as a state. The two parties have maintained friendly relations over the years, with regular official visits and dialogue. In June 2023, China and Palestine announced the establishment of a strategic partnership.
China-Palestine Bilateral Trade
Bilateral trade between China and Palestine reached US$158 million in 2022, with Chinese exports dominating the trade. China has been a key exporter of mechanical appliances, electrical machinery, and furniture to Palestine.
China-Palestine Free Trade Agreement Negotiations
Negotiations on a China-Palestine Free Trade Agreement (FTA) began in 2018. The first round of negotiations was completed in early 2019, and discussions focused on the principles of negotiation, treaty scope, and key concerns. The negotiations were put on hold until June 2023, when Chinese President Xi Jinping called for accelerating the negotiation process.
China-Palestine Bilateral Investment
Investment
As of the end of 2017, China’s accumulated direct investment in Palestine amounted to approximately US$490,000. In 2018, new contract agreements worth US$8.87 million were signed, indicating a significant increase compared to the previous year.
Belt and Road Initiative
The implementation of investment projects under the Belt and Road Initiative (BRI) is a cornerstone of the China-Palestine partnership. The BRI offers opportunities for infrastructure development, renewable energy projects, industrial zones, digital connectivity, and cultural and educational exchanges between the two countries.
Conclusion
China’s relations with Palestine are part of its broader diplomatic engagements in the Middle East. China has positioned itself as a potential mediator in the region and has actively deepened its ties with various Middle Eastern countries. The China-Palestine partnership, particularly under the BRI, holds significant promise for economic growth and development in Palestine.
SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 16: Peace, Justice, and Strong Institutions | Target 16.3: Promote the rule of law at the national and international levels and ensure equal access to justice for all | No specific indicators mentioned in the article |
| SDG 17: Partnerships for the Goals | Target 17.3: Mobilize additional financial resources for developing countries from multiple sources | No specific indicators mentioned in the article |
| SDG 8: Decent Work and Economic Growth | Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries | No specific indicators mentioned in the article |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all | No specific indicators mentioned in the article |
| SDG 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix by 2030 | No specific indicators mentioned in the article |
| SDG 4: Quality Education | Target 4.3: By 2030, ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university | No specific indicators mentioned in the article |
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Source: china-briefing.com
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