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Saudi-Chinese Summit…Agreements Worth $65 Billion - ASHARQ AL-AWSAT English
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Saudi Arabia

Saudi-Chinese Summit…Agreements Worth $65 Billion

Beijing, Riyadh-Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud oversaw the signing of deals worth $65 billion during his official visit to Beijing Thursday.

“We take care of our interests as well as the interests of those working with us. I’m pleased with this visit which will enhance the good relations between the two countries in all fields,” the Custodian of the Two Holy Mosques said at a ceremony of the Saudi-Chinese Investment Forum in Beijing.

King Salman held official talks Thursday with Chinese President Xi Jinping in the Great Hall of People in Beijing.

“The world is witnessing today many challenges that threaten its security and stability topped by the phenomenon of terrorism, interference in states’ internal affairs, the arms race, and the clash of cultures which necessitate that the international community exert more efforts and work together to confront these challenges and enhance international peace and security,” the King said in a speech delivered during the official talks.

King Salman also expressed his country’s happiness about the level of relations reached between Saudi Arabia and China, recalling the visit made by the Chinese President to Saudi Arabia in January 2016.

“During the meeting, we held fruitful talks reflected positively on the joint cooperation in all fields,” the Saudi King said.

For his part, Xi welcomed the Custodian of the Two Holy Mosques and said the visit reflected the extent of the King’s great interest in developing relations between the two friendly countries.

“We are keen to strengthen and promote relations between the Kingdom and China to the highest levels,” the president said.

On Thursday, 21 investment accords were co-signed between private sector firms of the two countries, ranging from energy, petrochemicals, contracting, IT, refinery and marketing.

The accords were signed during Saudi-Chinese Investment Forum sessions, which concluded on the sidelines of the official visit of the Custodian of the Two Holy Mosques to China.

Both countries also signed an MoU on the general framework for opportunities for industrial investment and infrastructure, a strategic cooperation agreement for investment in multiple projects, an executive cooperation between Radio and Television Commission of the Kingdom and the Publishing Commission of the People’s Republic of China, in addition to a cooperation program in the field of trade and investment, an MoU for the kingdom to participate in China’s Chang E-4 moon mission and a partnership agreement for manufacturing drones.

Also, the Custodian of the Two Holy Mosques was briefed on the refinery of Fujian Refining and Petrochemical Company Ltd. (FREP), jointly owned by Saudi Aramco and ExxonMobil as well as Fujian Petrochemical Company. The Custodian of the Two Holy Mosques was also briefed on SABIC projects in the Kingdom of Saudi Arabia and China.

China’s Minister of Economy and Commerce Gao Hucheng said that the volume of trade exchange between the two countries in 2016 reached record levels, stressing that China is exerting all its efforts to develop relations with the Kingdom of Saudi Arabia in accordance with the Kingdom’s Vision 2030 and China’s Belt and Road Initiative.

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