RIYADH: Chinese Ambassador Lee Ching-Wen dismissed claims about the deterioration of the Chinese economy and explained that it has moved into a new era focusing on quality and sustainability.
The envoy was speaking to members of the Saudi-Chinese Business Council (SCBC) at the Council of Saudi Chambers (CSC) recently, where the two sides discussed ways to create a better economic future for both.
He said China is unifying social class across all regions of China, which requires more openness to international markets.
Saudi Arabia has been the largest trade partner and exporter of crude oil to China in Africa and West Asia. Likewise, China is a key trade partner to the Kingdom.
The ambassador assured that his country will continue to import Saudi oil and collaborate with the Kingdom to ensure stabilizing of declining oil prices by developing convenient mechanisms.
He pointed out that the Silk Road project aims to enhance cooperation with Saudi Arabia and other countries in the region due to its distinguished geographic and economic position. “The two countries share a lot in common, including rapid economic development, which will be further enhanced once the Silk Road project is implemented,” the envoy added.
During the meeting, SCBC’s former Chairman Abdulrahman Al-Jeraisy was honored for his notable efforts in boosting the relations between China and the Kingdom.
Expressing his gratitude for the gesture, Al-Jeraisy said he will continue his efforts to promote bilateral trade in many new areas.
The meeting concluded with an open session on methods to enhance Saudi-Chinese relations and to remove obstacles that hinder them from further progress.
Envoy: Chinese economy moves into new era
Envoy: Chinese economy moves into new era
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
