geo news today Saudi-China Relations and Partnership: When, When, What Happened Chinese President Xi Jinping is arriving in Saudi Arabia today at the invitation of Saudi King Salman.
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| geo news today Saudi-China Relations and Partnership: When, |
During the visit, the leaders of the two countries will participate in the Saudi-Chinese Summit, the Gulf-Chinese Summit, and the Arab-Chinese Conference, in which mutual cooperation and development issues will be discussed.
Since the establishment of relations more than three decades ago, the leaders of the two countries have been working continuously to enhance mutual relations. Here are some of the steps being taken to promote relations between Saudi Arabia and China.
Relations between the two countries began in 1990.91
Nine years later, Chinese President Jiang Zemin became the first Chinese head of state to visit Saudi Arabia. The highlight of the 1999 visit was the signing of the Strategic Oil Agreement.
In 2004, Saudi Arabia and China began regular political meetings, the same year China's state-owned energy company Sinopec also signed an agreement to explore gas in the kingdom.
Two years later, King Abdullah became the first ruler of Saudi Arabia to make an official visit to China and signed several energy deals. In the year 2006, this series of mutual relations were further strengthened when the two countries entered into agreements regarding further economic, trade, technical, and vocational training issues.
In the same year, the Saudi Arabian Development Bank finalized a loan to China's Xinjiang province. In 2006, the then-President of China, Hu Jintao, visited the Kingdom. On this occasion, he predicted that "in the new century, the relationship between China and Saudi Arabia will create a new chapter of friendship and cooperation."
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On the sidelines of the visit, Chinese President Hu Jintao and King Abdullah signed several agreements, including energy exploration and security matters. King Abdullah adopted a 'Look East' trade policy beneficial to Asia, according to which more than half of Saudi Arabia's oil went to Asia.
In 2008, when a devastating earthquake occurred in China's Sichuan province, Saudi Arabia helped China in the form of $50 million in cash and $10 million in goods. In 2009, Chinese President Hu Jintao visited Saudi Arabia for the second time. In it, he discussed regional issues and issues of mutual interest with King Abdullah.
The year 2014 was the year when Saudi Arabia emerged as the largest supplier of crude oil to China, while the volume of trade between the two countries reached 69 billion million dollars in the same year.
Three years later, King Salman visited China, further strengthening ties with the world's second-largest economy. In 2017, contracts worth 65 billion dollars were signed.
Similarly, in 2019, Crown Prince Mohammed bin Salman also visited China during his Asia tour and met with Chinese President Xi Jinping and other high officials.
Both countries have their own long-term development goals. China has the Belt and Road Initiative, while Saudi Arabia is advancing initiatives for Vision 2030. The two leaders also expressed their determination to cooperate with each other in achieving these goals.
The two countries also signed an agreement to carry out further research work regarding the maritime transport industry. Saudi Crown Prince Mohammed bin Salman has agreed to allocate $10 billion for a petrochemical complex in China.
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