Saudi Arabia, China sign multiple deals, MoUs
China and Saudi Arabia signed 15 agreements and memorandums of understanding on various fields and industries
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman signed a deal on Tuesday with Chinese Vice Premier Zhang Gaoli to initiate a joint Saudi-China council to widen cooperation.
China and Saudi Arabia signed 15 agreements and memorandums of understanding on Tuesday. The Saudi Press Agency listed the following MoUs as being signed:
• Memorandum of understanding (MOU) on energy development;
• MOU on oil storage;
• MOU on cooperation on mining;
• MOU on housing development;
• MOU on cooperation between the Chinese Ministry of Commerce and the Saudi Fund for Development;
• MOU on cooperation on water resources;
• MOU on the construction of a new city;
• MOU on cooperation on product quality control, supervision, testing and quarantine;
• MOU on a loan fund to help finance the reconstruction of the areas affected by earthquakes;
• MOU on cooperation between the Chinese Ministry of Science and Technology and King Abdulaziz City for Science and Technology;
• Agreement for a development loan to help finance the construction of buildings of the Faculty of Professional Engineering and Financial Project;
• Silk Road executive development program;
• Executive program of the Convention on Cultural Cooperation;
• Cooperation program between China’s Department of Standardization and the Saudi Standards, Metrology and Quality; and
• Memorandum of cooperation on translation and publication of literary and classical works.
During the meeting, the two sides also reviewed strategic ties and efforts to strengthen the existing partnership between China and Saudi Arabia.
From the private sector part, Saudi Arabia signed MoUs with Shanghai Electric and Huawei. There are more meetings planned with other corporations in the coming day.