Saudi Arabia and China discuss energy, industry and supply chain cooperation in Beijing
Saudi Foreign Minister Faisal bin Farhan met with Chinese Foreign Minister Wang Yi in the capital Beijing. The meeting discussed strengthening cooperation in strategic areas including energy, industry, supply chains and advanced technologies, as well as investment opportunities in line with Saudi Arabia's Vision 2030 goals.
Saudi Foreign Minister 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 discussed deepening economic, trade and investment cooperation. Key topics in the meeting included energy, industry, supply chains and advanced technologies. It was emphasized that new horizons should be opened to increase mutual investments and expand trade volume, in line with Saudi Arabia's Vision 2030 goals.
"Vision 2030" is known as a comprehensive strategic plan launched by Saudi Arabia's Crown Prince Mohammed bin Salman in 2016, 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. In recent years, relations have gained momentum, with important milestones including Chinese President Xi Jinping's visit to Riyadh in 2016 and Saudi King Salman bin Abdulaziz's visit to Beijing in 2017. During King Salman's visit, agreements worth over $65 billion were signed between the two countries, including a decision to establish a Chinese drone factory in Saudi Arabia.