Saudi Arabia and China sign 57 deals worth over $3.73bln
BEIJING — The Saudi-Chinese Business Forum wrapped up in Beijing on Wednesday with clinching 57 agreements and memoranda of understanding (MoUs) valued at over SR14 billion between Saudi and Chinese entities.
The forum 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.
Speaking on the occasion, Alfadley noted that trade exchange between Saudi Arabia and China has exceeded $107 billion, underscoring strength and strategic importance of their bilateral economic ties. He highlighted that China is one of the Kingdom's most significant trading partners, representing 18 percent 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 biofertilizers.
They also included plans to develop a smart city dedicated to food security in the Kingdom, featuring factories, laboratories, and integrated logistics services. Additionally, they outlined joint efforts to establish a comprehensive industrial city in the Jazan region focused on primary and transformative industries, aimed at strengthening supply chains and creating new opportunities for agriculture-related industrial investment.
During the Chinese visit, Minister Alfadley held discussions with Chinese Minister of Ecology and Environment Huang Runqiu. During the meeting, the ministers explored avenues for bilateral cooperation in environmental protection, pollution reduction, ecosystem restoration, and the exchange of expertise in sustainable environmental management.
Alfadley's three-day official visit to Beijing, which concluded on Wednesday, aimed to strengthen environmental relations between the Kingdom and China and explore opportunities for cooperation in environmental sustainability.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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