Tuesday, 16 July 2024

Chinese Ambassador to the Kingdom: Trade between Beijing and Riyadh exceeds $100 billion


Zhang Hua, the Chinese ambassador to Saudi Arabia, explained that the volume of trade exchange between China and the Arab countries rose from $37 billion in 2004 to $400 billion last year, which represents an increase of 981% over about 20 years.

The ambassador stated during his first conference that China is the Kingdom’s largest trading partner, and the Kingdom is China’s largest partner in the region, saying, “The volume of trade between China and Saudi Arabia exceeds $100 billion for two consecutive years, meaning it exceeds 55% of the total trade between China and the GCC countries.” Gulf Cooperation, as Saudi Arabia is a preferred gateway for Chinese companies to enter the Gulf market.”

He added that relations with Saudi Arabia constitute a priority for China, as the Chinese President made a successful and historic visit to Saudi Arabia in 2022, and at the present time agreements are being coordinated that contribute to cooperation in all fields, stressing his observation of unprecedented changes in the Kingdom, and since the launch of Saudi Vision 2030, the Kingdom has accelerated economy diversification, and society became more vibrant.

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It is noteworthy that last Monday, Zhang Hua received a copy of his credentials to Abdul Majeed Al-Sammari, Undersecretary of the Ministry of Foreign Affairs for Protocol Affairs on behalf of the Minister of Foreign Affairs, after his appointment as Ambassador of the People’s Republic of China to the Kingdom.