(BEIJING) – Saudi Arabia signed 15 preliminary agreements with China on Tuesday in sectors from energy to housing on a trip headed by Deputy Crown Prince Mohammed bin Salman aimed at bolstering relations with a top energy customer and trade partner.
- Prince Mohammed met China’s vice premier Zhang Gaoli on Tuesday, state news agency SPA reported.
- Fifteen memorandums of understanding (MoU) were later signed between the two nations in different fields including oil storage, water resources, cooperation on science and technology, and cultural cooperation, SPA said.
- In April, Prince Mohammed launched radical economic reforms designed to develop non-oil industries in Saudi Arabia and attract billions of dollars of foreign investment. Chinese and Japanese banks and companies are expected to play major roles.
- Prince Mohammed arrived in China on Monday for talks on economic ties as well as security issues. He will then visit Japan from Aug. 31 to Sept. 3, meeting Prime Minister Shinzo Abe.
- From Japan, the prince will return to China to chair Saudi Arabia’s delegation to the Sept. 4-5 summit of leaders of the world’s 20 biggest economies in the eastern city of Hangzhou.
VISIT IS PART OF A LARGER SAUDI ARABIA AND CHINA STRATEGY
“During the meeting, the strategic relationships and future opportunities to enhance the existing partnership between the Kingdom of Saudi Arabia and China were reviewed,” SPA said.
Full article: China and Saudi Arabia Strengthening Ties (TruNews)