The China-Saudi Investment Conference launched on Tuesday in Beijing, coinciding with a visit by Saudi Investment Minister Khalid Al-Falih.
The conference planned to cover topics such as clean energy, finance, investment, mining, metals, tourism
The China-Saudi Investment Conference launched on Tuesday in Beijing, coinciding with a visit by Saudi Investment Minister Khalid Al-Falih.
Senior officials, CEOs, investors and entrepreneurs from the two countries were expected to review and discuss investment opportunities and initiatives aimed at fostering increased cooperation.
China’s Vice Minister of Commerce Li Fei told the conference that China will work with Saudi Arabia to connect the Belt and Road Initiative - which aims to create new trade routes with Africa and Europe - with Saudi Arabia’s Vision 2030.
In his speech, Al-Falih encouraged Chinese investors to “seize” opportunities in Saudi Arabia.
The conference planned to cover topics such as clean energy, finance, investment, mining, metals, tourism, entertainment, food security, agriculture, logistics services, shipping, supply chains, the digital economy, and artificial intelligence, according to the organizer.
China is Saudi Arabia’s leading trading partner, while Saudi Arabia is China’s biggest crude oil supplier.
Last year bilateral trade exceeded 106 billion US dollars, a 30 percent increase year on year compared to 2021.
Israeli Prime Minister Benjamin Netanyahu said he didn't rule out further strikes on Hamas leaders "wherever they are" as the heads of Arab and Islamic states held a summit to show support for Qatar after Israel's attack on the Gulf state last week.
Iraq signed $1 billion worth of investment agreements with the International Finance Corporation (IFC), part of the World Bank Group, as the country seeks to boost its economic recovery.
Israel's strikes targeting Hamas in Doha, hot on the heels of an Iranian hit on a U.S. base in the Gulf nation in June, could shake Qatar's image as a stable business hub as it seeks to balance commercial goals with global diplomatic ambitions.
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