Saudi Crown Prince Mohammed Bin Salman Arrives in China

Photo: AFP

Saudi Crown Prince Mohammed bin Salman arrived in Beijing on Thursday, the last country in his Asian tour, which includes Pakistan and India, aimed at boosting economic and political ties between Saudi Arabia and these countries.

During the two-day visit, Prince Mohammed will meet with Chinese Vice Premier Han Qing on Friday morning before meeting Chinese President Xi Jinping at noon

Prince Mohammed bin Salman said during his visit to India and Pakistan that Saudi Arabia aims to invest more than 100 billion dollars in India over the next two years, while signed during his visit to Pakistan agreements worth 20 billion dollars.

According to Minister of Energy, Industry and Minerals Khaled Al-Falih, the visit of Crown Prince Prince Mohammed bin Salman to China aims to develop bilateral relations and enhance cooperation between the two countries in all fields.

"China is the Kingdom's largest trading partner, a strong and prosperous bilateral trade with the opening of Chinese markets, and the Kingdom has its share in those markets," Al-Falih said in an interview with the official Chinese news agency (Xinhua).

Saudi Arabia's imports from China totaled about $ 46 billion in 2018.

Al-Falih said Prince Salman's visit to China would look forward to future cooperation that would enhance what has been achieved at the two previous meetings of the Joint Commission.

"I think mutual investments between the two countries will grow, the Kingdom has a lot of capital that needs lucrative projects, and China is a great place to invest in its huge markets and its environment," he said.

He pointed out that China is growing rapidly thanks to technology, capacity and exports to the world, there is increasing competition for Chinese products in terms of quality, and China is no longer a manufacturer of low-cost goods.

"I think these mutual investments will grow, the Kingdom has a lot of capital that needs lucrative projects, and China is a great place to invest in its huge markets and its environment," he said.

"We want to name different companies, not just those specialized in oil and petrochemicals, but also in renewable energy, automotive manufacturing, pharmaceuticals, aerospace, etc., all welcome in Saudi Arabia to benefit from our government's support, will start to grow very quickly over the next few decades "He said.

According to analysts, Saudi Arabia hopes China will be an important part of Saudi Arabia 2030 vision, an ambitious economic plan aimed at diversifying Saudi Arabia's income sources and reducing its reliance on oil revenue.

Source: CNN