New deal to facilitate China auto export to Arab countries

A Chinese trade association and a firm has signed an agreement with a Jordanian company to facilitate the export of Chinese automobiles and parts to Arab countries.

The deal was reached between the China Council for Promotion of International Trade, Ningxia Silk Road ePath Co. and Aqaba National Real Estate Projects, which was headquartered in south Jordanian city of Aqaba.

Under the agreement, Chinese auto exporters will be able to store cars and components in a bonded area in Aqaba owned by the Jordanian company before selling the goods to the Arab markets.

"We welcome Chinese automakers to build assembling factories in our bonded area in Aqaba, which can save tariffs for them," Sharif Kamal, board member of the Jordanian company told Xinhua.

Ningxia Silk Road ePath, a cross-border e-commerce platform, will work out ways to connect online and offline businesses between China and Arab countries.

"The specific cooperation model is yet to be discussed, and our cooperation will be far beyond the auto business," said Feng Hejin, vice general manager of the Ningxia company.

The three parties will seek for more cooperation opportunities in the future, according to the agreement.

This deal was signed on the China-Arab States Auto Cooperation Forum, a major part of the ongoing China-Arab States Expo.