China and Persian Gulf Council sign free trade agreement
Iran Press News: Translation by Banafsheh Zand-Bonazzi.
Regime-run newspaper SARMAYEH wrote: China and the countries of the [Persian] Gulf Cooperation Council, finalized a new round of talks regarding the consolidation of an agreement on free trade, with the goal and guarantee of long-term oil output to maximum capability. To this end, Chinese trade officials along with the Council member countries such as Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates Arab held talks in the eastern province of Zhejiang between July 19 to 22. More than 40% of China’s oil consumption is imported from these six countries of the Persian Gulf which is why China is intent on guaranteeing it’s long-term crude oil output.