To strengthen economic relations.. Saudi Arabia holds the Tenth Arab-Chinese Business Conference

In an effort to strengthen trade relations between Arab countries and China, Saudi Arabia is holding a conference to discuss ways of cooperation with China.

  The Saudi capital, Riyadh, is preparing to host a major business event on the 11th and 12th of June at the King Abdulaziz International Conference Center.

The Tenth Arab-Chinese Business Conference under the title "Cooperation for Prosperity".

The event aims to identify the main areas of cooperation between the Arab countries and the Asian economic giant.

Conference organization

The conference is organized by the Saudi Ministry of Investment and the Ministry of Foreign Affairs in cooperation with the League of Arab States, the Chinese Council for the Promotion of International Trade and the Union of Arab Chambers.

Conference topics

It is described as the largest Chinese-Arab business gathering with more than 2,000 participants.

 The two-day event will include networking events as well as panel discussions covering a wide range of topics including China's Belt and Road Initiative, renewable energy, pharmaceuticals, startups, esports, tourism, and food security.

Keynote speakers at the event include Saudi Energy Minister Prince Abdulaziz bin Salman, CEO of the Royal Commission for Al-Ula Amr Al-Madani, Fahd Al-Ajlan, head of the King Abdullah Petroleum Studies and Research Center, and Fahd Sindi, CEO of Saudi Engineering and Aerospace Industries.

20 panel discussions

Other speakers slated for the event include Laura Mai Long Cha, President of the Hong Kong Stock Exchange and Clearing House, Ahmed Aboul Gheit, Secretary General of the League of Arab States, and Tong Li, CEO of China International Bank Holdings.

There will be 20 panel discussions and workshops during the event where top executives, business owners, investors and government officials will share their views to enhance trade relations between the region and China.

The conference is expected to stimulate trade relations between the Kingdom of Saudi Arabia and the Asian giant, as the two countries are currently focusing on developing many strategic sectors.

Vision 2023 goals

Earlier, the Saudi Energy Minister met with Zhang Jianhua, director of the Chinese National Energy Administration, and his accompanying delegation in Riyadh to discuss ways to strengthen relations between the two countries in various fields of energy, in order to achieve the goals of Saudi Vision 2030 and the Chinese Belt and Road Initiative.

Power supply

The meeting also discussed the importance of ensuring the security of energy supplies to markets, joint ventures to convert crude oil into petrochemicals, and innovative uses of hydrocarbons.

$4 billion

In May, China's Baoshan Iron and Steel Company announced its plans to invest 15 billion Saudi riyals ($4 billion) in a project in Ras Al-Khair Economic Zone to manufacture sheet metal.

In March, energy giant Saudi Arabian Oil also signed a deal with China's Norinco Group and Panjin Xincheng Industrial Group to form a joint venture to build a refinery and petrochemical complex in China's Liaoning Province.

Saudi Aramco will own 30% of the shares in the joint venture called Hujain Aramco Petrochemical Co, while Norinco Group and Panjin Xincheng Industrial Group will own 51% and 19%, respectively.

Commercial and cultural relations

Saudi Investment Minister Khalid Al-Falih said recently that trade and cultural ties between Arab countries and China have always been strong.

Trade and cultural relations between Arab countries and China stretch back more than 2,000 years but have deepened significantly in light of the complementary nature of our economies in vital sectors of the global economy. Al-Falih said that the Arab-Chinese Business Conference will enable participants from the public and private sectors to discuss the future of this cooperation.

He added, "China's strategic direction is in line with the Kingdom's Vision 2030. Recognizing the importance of leveraging strengths in each region, we look forward to the conference providing a forum to explore mutually beneficial opportunities."