RIYADH: Saudi Minister for Foreign Affairs Prince Faisal Bin Farhan said on Sunday that China was the largest trading partner of the Arab world and the volume of trade exchange between the two sides reached 430 billion dollars last year.
China-Arab world
Saudi Minister for Foreign Affairs made his comments while inaugurating the 10th Arab-China Business Conference in Riyadh on Sunday, on behalf of Crown Prince Mohammed Bin Salman.
#Riyadh | On behalf of HRH the Crown Prince, Foreign Minister HH Prince @FaisalbinFarhan inaugurates the 10th Arab-China Business Conference 2023, under the theme "Collaborating for Prosperity".
📄: https://t.co/qUPekf0SoR pic.twitter.com/6SKD0mdYHG— Foreign Ministry 🇸🇦 (@KSAmofaEN) June 11, 2023
Prince Faisal said the Kingdom makes up 25 percent of the total volume of trade exchange between China and Arab nations. The foreign minister highlighted the Crown Prince’s enthusiasm to increase the level of work to produce outcomes worthy of the long-standing, advanced partnership between China and the Arab world in all important investment sectors.
Prince Faisal said that the Arab-China Business Conference is an opportunity to further strengthen and consolidate the historical Arab-Chinese ties and friendship, build a common future that takes them on a new dawn that will benefit people, and maintain development and peace around the world.
The Minister said that the theme of the conference emphasizes the great significance, compatibility, potential, and common vision that motivates the investment and trade ties between the Arab countries and Beijing. Prince Faisal said it contributes to the opening of new opportunities for investment to achieve progress and development in the region.
He said Chinese leader Xi Jinping’s successful tour to Saudi Arabia in December 2022, further strengthened economic, political, trade, and investment relations between the two friendly nations.
The trip accorded with the launch of the first China-Arab States Summit and China-GCC Summit, both of which resulted in the signing of many deals and MoU worth over $50 billion. The Business Conference is being organized in Riyadh as per the theme “Collaborating for Prosperity”.