Saudi Arabia and China discuss energy, industry and supply chain cooperation in Beijing
Saudi Foreign Minister Prince Faisal bin Farhan met with Chinese Foreign Minister Wang Yi in the capital Beijing. The meeting focused on strengthening cooperation in strategic fields, including energy, industry, supply chains and advanced technologies, as well as investment opportunities aligned with Saudi Arabia's Vision 2030 goals.
Saudi Foreign Minister Prince Faisal bin Farhan held a meeting with Chinese Foreign Minister Wang Yi in Beijing on Tuesday. According to a statement from the Saudi Foreign Ministry, the two ministers discussed ways to strengthen partnership in strategic sectors, particularly energy, industry and supply chains.
The statement said the two ministers also addressed deepening economic, trade and investment cooperation. Key topics highlighted during the meeting included energy, industry, supply chains and advanced technologies. In line with Saudi Arabia's "Vision 2030" targets, the need to open new horizons for boosting mutual investments and expanding trade volume was emphasized.
"Vision 2030" is a comprehensive strategic plan launched by Saudi Arabia in 2016 under the leadership of Crown Prince Mohammed bin Salman, aiming to reduce the economy's dependence on oil and achieve sustainable diversification.
Background of Bilateral Relations
Looking at the history of bilateral relations, diplomatic ties between Saudi Arabia and China date back to 1990. Relations have gained momentum in recent years, with Chinese President Xi Jinping's visit to Riyadh in 2016 and Saudi King Salman bin Abdulaziz's visit to Beijing in 2017 marking significant milestones. During King Salman's visit, agreements worth more than $65 billion were signed between the two countries, including a decision to establish a Chinese drone factory in Saudi Arabia.