China in the Middle East
China’s influence in key Middle Eastern countries has increased thanks to its economic clout. It is becoming a primary export market for countries of the region (and much of the world in general), while also making significant and strategic investments in numerous regions.
In the past five years, China has emerged as the major investor in Iran, with an estimated US$120 billion worth of energy investments. Despite the sanctions already in place, trade between the countries grew by 35% in 2008, to $27 billion. In 2009, China signed over $8 billion in new energy investments. Seemingly, there is an emerging China-Iran tandem.
Saudi Arabia and Iran are among China’s biggest suppliers of crude oil.
China is Saudi Arabia’s top export market. Trade between the two countries had increased to US$41.8 billion in 2008. 16,000 Chinese workers were employed in Saudi Arabia in 2009, representing 70 companies.
It is estimated that in 2010 China will be Egypt’s largest trade partner.