Sultanate Oman: a New Stage in the Development of Bilateral Trade with China

The article analyzes the dynamics and structure of bilateral trade between China and the countries of the League of Arab States (LAS), primarily with the Sultanate of Oman. It has been established that there is an increase in the trade turnover between China and its partner, while the balance is often not in favor of China due to the almost exclusive import of Arab hydrocarbons from China and exports of traditional products of machinery and light industry. At this stage, China has become the largest foreign trade partner of the Arab countries, displacing Western states in this area. The relevance, as well as the scientific and practical significance of the study, is due to the need, firstly, for a deeper analysis of the bilateral trade between the People's Republic of China and the Sultanate of Oman and the partial use of this experience in the Russian economy, and, secondly, to study the specifics of the development of the national economy and trade of the Sultanate of Oman, which is an urgent need from the perspective of, increasing its share in the extractive, industrial and financial sectors. The study was conducted on the basis of statistical and analytical materials and expert assessments of international institutions (UNCTAD, UN, OECD, WTO, IMF, World Bank) and organizations (OPEC, Arab Monetary Fund, Arab League, SAM, GCC, Arab Fund for Economic and Social Development), research institutes of China, the results of the author's own research. In conclusion, the author comes to the conclusion that it is important for Arab countries to form a long-term paradigm for the development of trade and economic relations with both China and other countries, and a conceptual model for its state regulation, taking into account not only current, but also the long-term interests of their own stable socio-economic development. In our opinion, the preferred option may be, for example, a unified (within the framework of the GCC) approach to solving these problems.