China and the GCC held their first energy dialogue in March 2005 when the GCC's energy panel visited Beijing.

Chinese President Hu Jintao speaks to Saudi workers during his visit to Riyadh Cement Company in Riyadh February 11, 2009. Private Saudi company Riyadh Cement Co said on Tuesday it had awarded a contract to China's Sinoma International Engineering Co to double its cement production capacity by the end of 2009. Hu is on a three-day state visit to Saudi Arabia. [Xinhua]

On cooperation on investment and financial issues, Hu said businesses from both sides should be encouraged to expand mutual investment and participate in each other's infrastructure construction.

Hu said China is ready to strengthen coordination and cooperation with GCC member countries in the financial sectors to jointly respond to the adverse impact of the global financial crisis.

Al-Attiya said bilateral trade has soared in recent years. "Our trade volume has increased to 80 billion U.S. dollars in 2008 from 12 billion U.S. dollars in 2002," he said at the start of the meeting.

Despite the global financial crisis, the economies of GCC member countries remain in good shape, he said.

The secretary general said there is a host of opportunities for GCC members to expand investment and trade links with China and that they hope to forge closer trade ties and cooperate more closely in infrastructure, agriculture, and between small- and medium-sized businesses.

Hu called for expansion of cultural and educational exchanges so as to lay a stronger foundation for the bilateral friendship.

Hu also spoke highly of the crucial role the GCC has played in safeguarding regional security and ensuring stability on international energy markets.

Hu and Al-Attiya also exchanged views on the situation in the Middle East and major international issues.

Hu arrived here Tuesday at the start of his five-nation tour, which will also take him to Mali, Senegal, Tanzania and Mauritius.

(Xinhua News Agency February 12, 2009)