On behalf of His Highness the Crown Prince.. Minister of Foreign Affairs inaugurates the tenth session of the Arab-Chinese Businessmen Conference 2023 under the slogan “Cooperation for Prosperity”
Ashraf AboArafe
On behalf of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister – may God protect him -, His Highness Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, inaugurated today in Riyadh the tenth session of the Arab-Chinese Businessmen Conference 2023. Under the slogan “Cooperation for Prosperity”.
In his speech at the conference, His Highness the Minister of Foreign Affairs affirmed the keenness of His Highness the Crown Prince – may God support him – to raise the level of work to produce results worthy of the long-standing and advanced partnership in all vital investment fields between the Arab countries and the People’s Republic of China.
His Highness said: “The conference is an opportunity to work on strengthening and consolidating the historical Arab-Chinese friendship, and work on building a common future towards a new era that will benefit the people and maintain peace and development in the world.”
His Highness added that the theme of the conference, “Cooperation for Prosperity,” confirms the great importance, great potential, and common visions that lie in the investment and trade relations between the Arab world and China, and highlights how mutual compatibility, exchange of experiences, and launch of new opportunities for growth and investment, which would achieve prosperity and progress. and prosperity for the peoples of the region and the world.
His Highness the Minister of Foreign Affairs referred to the successful historic visit of His Excellency Chinese President Xi Jinping to Riyadh in December 2022, which further strengthened the ties between the two friendly countries in all fields, whether political, economic, investment and trade, which coincided with the launch of the first Arab-Chinese summit, and a Gulf-Chinese summit. All of which resulted in the signing of several agreements and memorandums of understanding worth more than $50 billion, covering a range of different sectors.
His Highness stated that China is the largest trading partner of the Arab countries, as the total volume of trade exchange between the two sides reached $430 billion in 2022, with a growth rate of 31%. compared to the year 2021 AD, indicating that the Kingdom of Saudi Arabia represents 25% of the total trade exchange between China and the Arab countries, as the volume of trade exchange between the Kingdom and China reached $106.1 billion in 2022 AD, an increase rate of 30% compared to the year 2021 AD.
