RIYADH: Saudi Arabia will host the 10th session of the Arab-Chinese Business Conference and the eighth Investment Symposium from June 11-12 in Riyadh, the Saudi Press Agency has reported.
“Collaborating for Prosperity” aims to boost cooperation in the areas of the economy, trade, and investment to achieve solutions of mutual interest to Arab nations and China through strategic collaboration.
It is organized by the Kingdom’s Ministry of Investment and the Ministry of Foreign Affairs in partnership with the Arab League’s secretary-general, the Chinese Council for the Promotion of International Trade, and a number of government agencies.
The conference is expected to be the largest Arab-Chinese gathering for business and investment, with more than 2,000 participants, including high-level government representatives, senior officials, CEOs, investors, and entrepreneurs.
Saudi Investment Minister Khalid Al-Falih said that trade and cultural ties between Arab countries and China extended over 2,000 years, and that the conference reflected that historic relationship.
He added that Saudi-Chinese relations had developed, especially following King Salman’s visit to China in 2017 and the two historic visits by Crown Prince Mohammed bin Salman to Beijing in 2016 and 2019.
Trade in 2022 between the Arab countries and China reached SR1.6 trillion ($430 billion), a 31 percent increase on the previous year.
Saudi Arabia led the way in that, with trade between the countries around SR400 billion ($106 billion), a 30 percent increase over 2021.
The conference’s agenda will include many dialogue sessions and bilateral meetings on the development of Arab-Chinese relations; prospects for investment and financing China’s Belt and Road Initiative; review investment opportunities in a variety of economic sectors; and mobilizing efforts to achieve sustainable development in various Arab countries and China.
The conference will also focus on promising economic sectors, most notably manufacturing industries; the digital economy and artificial intelligence; renewable energy; agriculture and food security; construction and real estate activities; mining; tourism and entertainment; infrastructure; logistics; and entrepreneurship and innovation.
