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 Beijing. The talks focused on strengthening cooperation in strategic areas 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 met 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 partnerships in strategic sectors, particularly energy, industry and supply chains.
The statement said the ministers also discussed deepening economic, trade and investment cooperation. Key topics covered in the talks included energy, industry, supply chains and advanced technologies. The need to open new horizons for increasing mutual investments and expanding trade volume was emphasized, in line with the goals of Saudi Arabia's Vision 2030.
Vision 2030 is a comprehensive strategic plan launched by Saudi Arabia under Crown Prince Mohammed bin Salman in 2016, aimed at reducing the economy's dependence on oil and achieving sustainable diversification.
Background of bilateral ties
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 significant 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, the two countries signed agreements worth more than $65 billion, including a decision to establish a Chinese drone factory in Saudi Arabia.