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It is Xi's first overseas visit this year and also his first trip to the region since becoming Chinese president in 2013.

The government will channel more money to rural areas and encourage private investment into rural and agriculture projects, according to the statement.

"Economically, it was clear that Xi had specific initiatives in mind and that China has prepared a lot of projects to invest in the Arab states," the expert told Xinhua.

Also at the signing ceremony, the two sides inked a number of other cooperation agreements covering such areas as electricity, space, infrastructure, trade, energy, fiance, culture, media, technology and climate change.

BEIJING, Dec. 28 (Xinhua) -- China responded to the agreement reached by Japan and the Republic of Korea (ROK) on Japan's wartime sexual slavery of Korean women during World War II on Monday, calling on Japan to deal with historical issues in a responsible way.