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FINANCIAL NEWS
China to increase economic ties with Middle East
01 Feb 2016
(MENAFN) Business relations increased between Saudi Arabia and Iran in Jan, reaching to diplomatic ties between the region’s heavyweights and sanctions on Iran.
The Chinese president visited Egypt, KSA and Iran, in order to increase the integration between Asia, the Middle East, Europe and Africa through wide infrastructure building.
Furthermore, all three nations confirmed on the collaboration in the Chinese initiative and signed many forms of contracts and proclaimed Chinese investments.
Therefore, China Development Bank will give USD 700mn aiming the implementation of infrastructure projects.
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