Manama > China is ready to strengthen bilateral relations with the Gulf Arab region. Chinese President Xi Jinping’s three-day visit to Saudi Arabia is expected to be a stepping stone for this. Political observers also estimate that the strengthening of cooperation with China, which is the second economic power in the world, will make a significant change in the geopolitical arena of the Arab region.
The main highlights of Xi’s visit will be the Arab China Summit on Cooperation and Development in Riyadh on Friday. The summit will be attended by 14 Arab heads of state and foreign ministers. Xi will meet with GCC leaders.
Chinese Foreign Ministry spokesman Mao Ning said Xi’s presence at the Sino-Arab Summit marks the largest and most high-profile diplomatic event between China and the Arab world since the founding of the People’s Democratic Republic of China. This will become a milestone in the history of Sino-Arab relations. The summit will set the future agenda for relations between the two regions. The spokesman said it would help build more strategic common understandings on key regional and international issues and help counter multilateralism.
Several large Chinese companies, including construction firms and telecom giant Huawei, are key players in Saudi’s drive to modernize infrastructure. Saudi Arabia supplied the most oil to China last year. China has been Saudi Arabia’s largest trading partner for the past five years. China imports the most products to Saudi Arabia. Since 2018, Saudi Arabia has been exporting the most to China. Last year, bilateral trade rose to Rs 30,900 crore. 39 percent growth compared to 2020. During this period, China invested 19,690 billion dollars in Arab countries. Of this, $3,990 crore was in Saudi Arabia. Negotiations on a free trade agreement between China and the six-nation Gulf Cooperation Council are in the final stages. Saudi Aramco is in talks to build a large oil refinery in China. Saudi Arabia has started working with Huawei to develop artificial intelligence systems. Saudi Arabia has also started building its own drones using Chinese expertise.
Meanwhile, US-Saudi trade shrank from $76 billion in 2012 to $29 billion last year. Relations with the United States have been strained for some time. Gulf Arab states have seen their ties to China and Russia strengthen over the past few years as regional skepticism has grown about America’s commitment to the region, a key security partner. The decision by OPEC Plus to cut production targets in October, despite US objections, angered the administration of US President Joe Biden.
The Chinese President’s visit will strengthen China’s bilateral relations with the Arab region. More than 20 initial contracts worth 11,000 crore riyals will be signed during the visit, according to the Saudi Press Agency. Saudi-China will also sign a strategic partnership charter. The summit will announce the synergy between Saudi’s Vision 2030 plan and China’s Belt Road Initiative, as well as the Prince Salman Award for Saudi-Chinese Cooperation. Earlier there was a report that the Arab-China summit will be held in Riyadh on Friday.
Chinese President Xi Jinping arrived in the Saudi capital Riyadh on Wednesday evening for a three-day official visit. Return to Beijing on Friday evening. Xi Jinping will attend the Sino-Arab Summit in his visit which will last till Saturday.
The official plane carrying the Chinese president was escorted by four fighter jets of the Royal Saudi Air Force and six Saudi Hvac jets of the Royal Aerobatic Team after entering Riyadh’s airspace. He received a grand and warm welcome when the plane arrived at Riyadh’s King Khalid International Airport. A 21-gun salute announced the arrival. Saudi warplanes flew the red and yellow colors of China’s national flag in the sky as a sign of respect.
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