Saudi Arabia signs 21 MoUs with China, grants trading licenses for two companies

The key focus on the latest meeting on Thursday was to find further opportunities for Chinese investments in coordination with by Saudi Vision 2030 initiatives in multiple fields. (SPA)

At least 21 Memorandums of Understandings were signed in the latest Saudi-China Business Forum meeting that was attended by Saudi King Salman.

The key focus on the latest meeting on Thursday was to find further opportunities for Chinese investments in coordination with by Saudi Vision 2030 initiatives in multiple fields.

Also on Thursday, two Chinese companies – Shandong Tiangong Mechanical & Electrical Equipment Limited Company and ZTE – were granted licenses to invest and trade in Saudi Arabia.

Deputy Chinese Foreign Minister Zhang Ming said the agreements involved investment, energy, space and other areas.

King Salman, who has overseen the launch of an ambitious economic reform plan since his accession two years ago, is on a month-long Asian tour.

Boost of trade relations between East and West

Saudi King Salman Chinese President Xi Jinping also attended in Beijing the conclusion ceremony of Roads of Arabia Expo at China National Museum.

The King and the Chinese President toured the Expo containing ancient and rare artifacts which represent the long history of the Arabian Peninsula and introduce the civilizational dimensions of the Arabian Peninsula and the cultural heritage of the Kingdom of Saudi Arabia.

The artifacts displayed in the Expo cover the period extends from the Old Stone Age (one million years Before Christ (BC) since prehistoric times, and the establishment of the Saudi state until the reign of late King Abdulaziz, the founder of modern Saudi state.

China's efforts and Kingdom's participation in building the economic belt of Silk Road and Maritime Silk Road come to boost trade relations between the East and the West and increase the interaction between civilizations.

Saudi King Salman and Chinese President attend conclusion ceremony of Roads of Arabia Expo (SPA)

Saudi King Salman and Chinese President attend conclusion ceremony of Roads of Arabia Expo (SPA)

Saudi King Salman and Chinese President attend conclusion ceremony of Roads of Arabia Expo (SPA)

Saudi King Salman and Chinese President attend conclusion ceremony of Roads of Arabia Expo (SPA)

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Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
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