The successful mediation by China in restoring diplomatic ties between Saudi Arabia and Iran in March 2023, which was counted as a win for China and highlighted its influence in the region, exemplifies a growing trend: stronger relations between the Middle East and Asia. This development, along with several other regional deals, emphasized a significant opportunity for further cooperation between Asia and the Middle East.
The Middle East, specifically the GCC-whose member countries include Saudi Arabia, the U.A.E., Qatar, Oman, Bahrain, and Kuwait-and Asia's four major powers-Japan, China, India, and South Korea-have increased their engagement over the past two decades, according to a report released by the Middle East Council on Global Affairs and Waseda University in July 2023.
This growing cooperation has been evidenced in a number of ways, such as the increasing number of construction projects from South Korea in the Middle East and the progress of China's Belt and Road Initiative, which intends to link Asia to the Middle East, Africa, and Europe, spurring investment and increasing global economic integration on terms largely set in Beijing.
This story is from the April 2024 edition of Forbes Middle East - English.
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This story is from the April 2024 edition of Forbes Middle East - English.
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