Beijing and Riyadh have discussed establishing a free-trade zone with the Persian Gulf states
China and Saudi Arabia are discussing the idea of creating a free-trade zone between Beijing and the member states of the Co-operation Council for the Arab States of the Gulf (GCC), Al-Arabiya reported on Friday, citing Crown Prince Mohammed bin Salman as saying.
“We have discussed creation of a free-trade zone between China and the countries of the Persian Gulf,” the crown prince announced, speaking at a Chinese-Arab summit that kicked off in Riyadh.
He added that the nations of that region and China are also planning to cooperate to find solutions to “problems of food and energy security.”
“We are exploring the possibility of cooperation with China in the field of supply chains,” bin Salman said.
China’s President Xi Jinping arrived in the Saudi capital on Wednesday. On Thursday, he held separate talks with Saudi King Salman bin Abdulaziz Al Saud and Egyptian President Abdel Fattah el-Sisi. On Friday, Xi is expected to attend the Sino-Arab summit that will reportedly be attended by 30 leaders of Arab nations and organizations.
China and Saudi Arabia deepen energy ties
China and Saudi Arabia have signed 12 agreements and memorandums of understanding for cooperation in the fields of hydrogen energy, the judiciary field, Chinese language education, housing, direct investment, radio and television, digital economy, economic development, standardization, news coverage, tax administration, and anti-corruption.
For more stories on economy & finance visit RT’s business section
You can share this story on social media: