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Saudi Arabia, China Laud their ‘Robust’ Relations

Trade between the two countries reached $48 billion by June 2024. SPA
Trade between the two countries reached $48 billion by June 2024. SPA
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Saudi Arabia, China Laud their ‘Robust’ Relations

Trade between the two countries reached $48 billion by June 2024. SPA
Trade between the two countries reached $48 billion by June 2024. SPA

Saudi Arabia and China commended the "robust" economic and investment relations between the two nations, a statement issued at the conclusion of the Fourth Meeting of the High-Level Saudi-Chinese Joint Committee in Riyadh said Thursday.

The statement said that with the aim of bolstering Saudi-Chinese relations, Chinese Premier Li Qiang visited Saudi Arabia to engage in discussions with Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

Talks focused on strengthening the comprehensive strategic partnership between the two countries across all fields. They also touched upon key regional and international issues of mutual interest.

“Both parties commended the robust economic, trade, and investment relations between the two nations, with Saudi Arabia being China's top trading partner in the Middle East and reciprocally, China being the Kingdom's foremost trading partner,” said the statement.

“Trade between the two countries reached $48 billion by June 2024, with Saudi exports to China totaling $24 billion and Chinese exports to the Kingdom also amounting to $24 billion,” it added.

During the meeting, the Saudi and Chinese delegations discussed ways to enhance cooperation across various fields, including politics, security, defense, energy, trade and investment, finance, science, technology, culture, and tourism.

Following the discussions, both the Crown Prince and Li signed the official minutes of the Fourth Meeting of the High-Level Saudi-Chinese Joint Committee.

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Gulf

Chinese Premier: Major Boost in Cooperation with Saudi Arabia

Chinese Premier Li Qiang arriving in Riyadh, Saudi Arabia (Chinese Foreign Ministry)
Chinese Premier Li Qiang arriving in Riyadh, Saudi Arabia (Chinese Foreign Ministry)
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Chinese Premier: Major Boost in Cooperation with Saudi Arabia

Chinese Premier Li Qiang arriving in Riyadh, Saudi Arabia (Chinese Foreign Ministry)
Chinese Premier Li Qiang arriving in Riyadh, Saudi Arabia (Chinese Foreign Ministry)

Chinese Premier Li Qiang voiced hopes for China and Saudi Arabia to continue strengthening their development strategies and expand cooperation in various fields.

He also stressed the need to keep deepening ties between the two nations and boost Chinese-Gulf and Chinese-Arab relations. Li made the comments during his official visit to Riyadh, which began on Tuesday.

The premier expressed his pleasure at visiting Saudi Arabia and delivered warm greetings and best wishes to the Saudi government and its welcoming people.

He also noted the strong historical friendship between the two countries, despite their distance.

Li highlighted the long history of Chinese and Arab civilizations, noting their connection through the Silk Road over 2,000 years ago. He said that, over the past 34 years since diplomatic ties were established, both cultures have significantly contributed to global progress.

The premier noted the significant progress in China-Saudi relations, attributing it to strong cooperation between both countries, which serves as a model for China-Arab and South-South cooperation.

He also recalled President Xi Jinping’s visit to Saudi Arabia in December 2022, where Xi attended three major summits: Saudi-China, Gulf-China, and Arab-China.

During this visit, Xi and King Salman signed a “Comprehensive Strategic Partnership Agreement,” and a “High-Level Saudi-Chinese Joint Committee” was created, with meetings held alternately in each country.

Li noted that China and Saudi Arabia have been working for over a year to implement key summit agreements, boosting political trust and balanced cooperation across various areas.

He emphasized their close coordination on regional and global issues, which has strengthened their strategic partnership and advanced Chinese-Gulf and Chinese-Arab relations.

Trade and investment between China and Saudi Arabia have surged over the last few years. In 2023, China invested $16.8 billion in Saudi Arabia, up from $1.5 billion in 2022. Saudi investments in China reached 75 billion riyals.

Trade between the two countries hit $97 billion last year, with Saudi Arabia exporting $54 billion worth of goods to China and importing $43 billion. China has been Saudi Arabia’s top trading partner for the past decade.

In education, Saudi Arabia recently added Chinese language courses to its schools and hired 171 Chinese teachers. Additionally, 100 Saudi teachers are studying in China to earn master’s degrees in teaching Chinese.