Saudi Arabia aims to increase trade with Beijing and discuss regional security when China’s president visits Riyadh this week.
Publish dateWednesday 7 December 2022 - 12:01
Story Code : 261979
Afghan Voice Agency (AVA)_Monitoring, Crown Prince Mohammed bin Salman is expected to mark Xi Jinping’s arrival on Wednesday with a lavish welcome that diplomats in the region have said may contrast starkly with the muted reception offered to U.S. President Joe Biden in July, Reuters reported adding the world’s biggest oil exporter is reshaping its foreign policy to reflect the new realities of global power.
Besides rolling out the red carpet for bilateral meetings with Xi during his two-day visit, the Saudi rulers will also convene fellow Gulf dynasts for a summit with him, followed by a wider gathering with other Arab leaders.
The United States, which for decades has been Saudi Arabia’s main security guarantor and which remains its main defense supplier, has expressed concerns about growing Chinese involvement in sensitive infrastructure projects in the Gulf.
The Chinese delegation this week is expected to sign agreements worth $30 billion with Saudi Arabia, SPA reported.
China sees Saudi Arabia as its key ally in the Middle East due not only to its oil exports but also a shared suspicion of Western interference, especially on issues such as human rights.
Foreign Minister Wang Yi said in October that Saudi Arabia was a “priority” in China’s overall and regional diplomatic strategy.
Although China has taken a more involved role in global politics in recent years, its relationship with Saudi Arabia remains firmly rooted in trade.
Besides oil sales, Saudi and Chinese state companies have joint ventures in refining and petrochemicals, and Riyadh is seeking foreign investment to help it diversify its economy into manufacturing, including of cars and arms.
Its plans for massive infrastructure development, including the $500 billion NEOM megaproject in the northwest, could also create new opportunities for Chinese construction companies that have grown increasingly active in the Gulf.
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