China and Saudi Arabia seal US$28 billion in deals
- Agreements include plans for Aramco-Norinco joint venture for refining and petrochemical complex
Saudi Arabia signed US$28 billion worth of economic cooperation agreements with China on Friday as its crown prince, Mohammed bin Salman, met top Chinese leaders in Beijing.
“China is a good friend and partner to Saudi Arabia,” Chinese President Xi Jinping told Salman at the Great Hall of People. “The special nature of our bilateral relationship reflects the efforts you have made.”
The crown prince also said Saudi Arabia supported China’s “Belt and Road Initiative” and respected Beijing’s counterterrorism efforts.
“The Silk Road initiative and China’s strategic orientation are very much in line with the kingdom’s Vision 2030,” state news agency Saudi Press Agency quoted Salman as saying, referring to Saudi Arabia’s economic reform programme.
Trade between China and Saudi Arabia rose by 32 per cent last year, he said.
