Agreements worth $29 billion to be signed during China’s Xi visit to Saudi Arabia

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More than 20 initial agreements worth SAR 110 billion ($29.26 billion) will be signed during Chinese President Xi Jinping’s visit to Saudi Arabia this week, the official Saudi Press Agency (SPA) reported on Tuesday.

The Chinese president will embark on an official visit to Saudi Arabia on Wednesday at the invitation of Saudi Arabia’s King Salman bin Abdulaziz.

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Xi’s visit to the Kingdom will run until December 9 during which a Saudi-Chinese summit headed by King Salman and the Chinese president, with the participation of Crown Prince Mohammed bin Salman, will be held.

In addition to the deals, China and Saudi Arabia will sign a strategic partnership agreement and a plan to harmonize the Kingdom’s Vision 2030 with China’s Belt and Road Initiative.

The summit will also witness launching Prince Mohammed bin Salman Award for Cultural Cooperation between Saudi Arabia and China.

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