RIYADH — Minister of Trade and Mineral Sources Bandar Al-Khorayef is heading Saudi Arabia’s delegation, collaborating within the sixth China-Arab States Expo, held from September 21 to 24 within the Chinese language metropolis of Yinchuan.

On this version of the expo, Saudi Arabia is collaborating because the visitor of honor.

The Saudi Export Growth Authority (Saudi Exports) is organizing the Saudi pavilion on the expo, which incorporates eight authorities companies and over 18 main nationwide firms within the meals, constructing supplies, providers, transportation, and logistics sectors.

By means of the pavilion, Saudi Exports goals to boost commerce and financial cooperation between the 2 international locations, open new export channels for Saudi firms within the Chinese language market, and complement its position in selling Saudi services and products and growing their market shares in world markets. The Chinese language market is up-and-coming, due to this fact, the Kingdom hopes to boost its contribution to the non-oil GDP.

Al-Khorayef mentioned the China-Arab States Expo is an extension of the robust relations, financial and commerce ties between Arab international locations and the Folks’s Republic of China. He added that selecting Saudi Arabia because the visitor of honor displays the depth and energy of relations between the 2 international locations and constitutes a strong base for establishing many partnerships within the financial and commerce points.

He harassed that the Kingdom and different Arab international locations can considerably profit from the progress achieved by China in recent times, particularly in know-how, synthetic intelligence, and 3D printing. He additionally highlighted the truth that Saudi Arabia is China’s high buying and selling accomplice within the Center East.

Saudi Exports CEO Abdulrahman Althukair mentioned the non-oil commerce stability between the Kingdom and China for 2022 amounted to SR110 billion. Saudi exports to China amounted to SR37 billion, and imports from China amounted to SR147 billion, he mentioned, including that Saudi non-oil exports to China up to now 5 years (2018-2022) amounted to SR177.6 billion.

This 12 months’s version of the expo will see the signing of a number of agreements and memorandums of understanding. It should present funding alternatives and promising strategic partnerships in numerous fields between the Saudi and Chinese language sides.

The minister of business and mineral sources has lately begun an eight-day official go to to China aspiring to strengthen the financial partnership with Beijing within the industrial and mining sectors and spotlight the Kingdom’s initiatives geared toward advancing these two strategic sectors.

The Saudi delegation consists of quite a few authorities companies, together with the ministries of Trade and Mineral Sources, International Affairs, Funding, Power, Transport and Logistics, Setting, Water and Agriculture, the Nationwide Industrial Growth and Logistics Program, the Saudi Exports, the Saudi Requirements, Metrology, and High quality Group, the Saudi Authority for Industrial Cities and Expertise Zones (Modon), the Nationwide Industrial Growth Middle, the Saudi Export-Import Financial institution, the Riyadh Chamber, and over 18 Saudi firms inside the “Made in Saudi” program. — SPA