Sunday, September 25, 2022

Two big deals of MBS: After Pakistan, Saudi Arabia signs economic agreements worth $ 28 billion with China


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at

Saudi Arabia and China signed economic cooperation agreements worth a total of $28 billion at a joint investment forum during a visit by Crown Prince Mohammed bin Salman to Beijing, the official Saudi media reported Friday.

The media said 35 agreements had been signed during the forum organized by the Saudi General Investment Authority. Four licenses were handed over to Chinese companies during the forum, said the sources without elaborating.

Earlier, Chinese President Xi Jinping met with Saudi Crown Prince Muhammad at the Great Hall of the People on the 22nd. Han Zheng attended.

Xi Jinping asked Muhammad to convey his sincere regards to King Salman. Xi Jinping pointed out that in recent years, under the leadership of the two sides, the comprehensive strategic partnership between China and Saudi Arabia has formed a new pattern of all-round, multi-level and wide-ranging areas.

The Chinese side regards Saudi Arabia as a good friend and good partner. It is willing to join hands with the Saudi side to carry forward the past and continue to create a new situation of friendship and strategic relations between China and Saudi Arabia, Chinese media outlet reported.

Xi Jinping emphasized that China and Saudi Arabia should continue to support each other and promote political mutual trust on issues involving core interests and major concerns.

China firmly supports the economic diversification and social reforms promoted by the Saudi side, and firmly supports the efforts of the Saudi side to safeguard national sovereignty, security and stability, and opposes any interference in Saudi internal affairs.

The two countries should strengthen the development strategy, deepen the integration of interests, accelerate the signing of the “One Belt and One Road” initiative and Saudi Arabia’s “2030 Vision” docking implementation plan, and promote bilateral and pragmatic cooperation in energy, infrastructure, trade and investment, and high value-added industries to achieve new results.

The two countries should jointly promote the construction of the China-GCC free trade zone.

Xi Jinping pointed out that China supports the peace demands of the people in the Middle East, supports the reform and transformation efforts of regional countries, and appreciates Saudi Arabia’s active efforts to maintain regional peace, stability and development.

We are willing to work with Saudi Arabia to explore the Middle East governance path of “promoting peace through development” and strengthen regional development cooperation through the joint construction of the “Belt and Road” to build a regional foundation for peace and stability.

The two sides should jointly encourage and support the parties to resolve hot issues through political channels through dialogue and consultation. The two sides should promote counter-terrorism cooperation in the Middle East, strengthen international cooperation, and prevent the spread of extreme ideas.

Muhammad first conveyed the cordial greetings and best wishes of King Salman to Xi Jinping. Muhammad said that the friendly exchanges between Saudi Arabia and China have a long history.

At present, the relations between the two countries are very friendly and economic and trade cooperation is developing rapidly. There is no difference between the two sides. Saudi Arabia is full of confidence in China’s bright development prospects under the leadership of President Xi, regards China as an important strategic partner, and thanks China for its support for Saudi domestic reform and development.


Read also: Saudi Arabia and Pakistan inked MoUs worth $ 20 billion


The Arabian Peninsula is part of the ancient Silk Road. Saudi Arabia supports the “One Belt, One Road” initiative and is willing to link the “2030 Vision” of Saudi Arabia with the “One Belt, One Road” initiative to further deepen pragmatic cooperation in various fields between the two countries.

China has the right to take anti-terrorism and de-extremization measures for safeguarding national security. The Saudi side respects and supports it and is willing to strengthen cooperation with China.

Saudi Arabia attaches importance to China’s active role in international and regional affairs and is willing to strengthen communication and coordination with China.


Read Also: JF-17 Thunder airborne salutes Saudi Crown Prince, historic visit begins


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