Saudi Arabia and China announce $3.7bn of deals at business forum
The Saudi-Chinese Business Forum wrapped up in Beijing with 57 agreements and MoUs valued at over SR14bn ($3.7bn) inked between Saudi and Chinese entities.
The event was attended by Minister of Environment, Water and Agriculture Abdulrahman Alfadley, with broad participation of officials and investors in the agricultural and food sectors from both countries.
Alfadley noted that trade exchange between Saudi Arabia and China has exceeded $107bn, underscoring their bilateral economic ties' strength and strategic importance.
Saudi-Chinese Business Forum
He highlighted that China is one of the Kingdom's most significant trading partners, representing 18 per cent of its foreign trade.
The signed agreements encompassed a range of projects across the environment, water, agriculture, fisheries, and livestock sectors.
Key initiatives include knowledge exchange on water recycling, development of human capacity-building programs, establishment of seaweed cultivation stations, and production of biofuels and biofertilisers.
They also included plans to develop a smart city dedicated to food security in the Kingdom, featuring factories, laboratories, and integrated logistics services.
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