Saudi Arabia's investment minister met with China's commerce and industry chiefs in Beijing on Sunday and discussed expanding cooperation in trade, investment and technology, the Chinese ministries said.
Minister of Investment of Saudi, Khalid Al Falih, Reuters/Ahmed Yosri/File Photo
Saudi Arabia's investment minister met with China's commerce and industry chiefs in Beijing on Sunday and discussed expanding cooperation in trade, investment and technology, the Chinese ministries said.
China is willing to work with Saudi Arabia to jointly promote China's Belt and Road infrastructure investment program and Saudi Arabia's "Vision 2030" initiative, the ministry quoted Commerce Minister Wang Wentao as saying after the meeting with Saudi Investment Minister Khalid Al-Falih, adding that the two countries would also expand cooperation in energy and resources, infrastructure and technology.
The Vision 2030 plan aims to diversify the economy of the world's biggest oil producer away from hydrocarbon income and includes big infrastructure projects and an expanded focus on the private sector.
Al-Falih also met China's Minister of Industry and Information Technology Jin Zhuanglong.
The ministry quoted Jin as saying that China was open to working with Saudi Arabia on new energy vehicles, aircraft, photovoltaics and artificial intelligence, as well as cooperating to safeguard global industrial supply chains.
China's ties with Saudi Arabia have deepened recently, with the Saudi energy minister declaring in June that his country would seek to collaborate, not compete, with China.
The relationship, anchored in hydrocarbon ties, has expanded, with the two countries signing a comprehensive strategic partnership agreement and a series of investment agreements in December 2022.
Reporting by Colleen Howe; editing by Miral Fahmy
Yemen's Iran-aligned Houthi militants fired on Saudi oil installations in two ports on the Red Sea coast on Saturday, but the United States held back from launching air strikes on Iran itself for the first night in two weeks.
Yemen is edging towards the resumption of a more than decade-old frozen conflict, Yemeni officials, Western diplomats and analysts say, as attacks on Saudi infrastructure and shipping by Iran-aligned Houthis test the patience of the kingdom and the Yemeni government forces it backs.
President Donald Trump said Thursday that a civilian nuclear cooperation deal signed with Saudi Arabia a day earlier is "totally subject" to the kingdom normalizing relations with Israel through the Abraham Accords, adding a significant condition that was not part of the original agreement as announced.
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