Photo was created by Webthat using MidJourney
Saudi Minister Engages in Official Visit to China
Abdullah Al-Swaha, the Minister of Communications and Information Technology of Saudi Arabia, embarked on an official visit to China with the aim of enhancing bilateral relations between the two nations. This visit, reported by the Saudi Press Agency, involves meetings with Chinese government officials and leaders.
Focus on Partnership Enhancement and Technological Investments
During the visit, Minister Al-Swaha held discussions with his Chinese counterpart and various other officials to reinforce partnerships and attract greater technological investments to the Kingdom of Saudi Arabia. The objective is to foster the growth of the Kingdom’s digital economy and promote innovation and space-related advancements aligned with Vision 2030.
Delegation Accompanies the Minister, Representing Key Sectors
Accompanying Minister Al-Swaha is a high-level delegation comprising representatives from entities associated with the digital economy, space, and innovation sectors in Saudi Arabia. Their presence underscores the Kingdom’s commitment to leveraging expertise and fostering collaborations in these key areas.
Strengthening Economic Ties and Reviving the Silk Route
Saudi Arabia and China have been actively working on strengthening their economic ties. This visit builds upon discussions during the Arab-China Business Conference, where top ministers explored the possibility of reviving the historic Silk Route.
Saudi Investment Minister Khalid Al-Falih highlighted the Kingdom’s potential as China’s gateway to the Arab world, emphasizing the importance of trade relations.
Alignment with Vision 2030 and Modern Technology
The Silk Route initiative resonates with Saudi Arabia’s vision for the future, focusing on economic diversification and utilizing modern technology to empower its youth. Minister Al-Falih expressed the Kingdom’s readiness to support advanced technology and innovation, recognizing China’s leadership in these domains.
Growing Trade Volume and Strong Business Partnerships
Trade between Saudi Arabia and China has seen significant growth, reaching $106 billion in 2022—an increase of 30% compared to the 2021. The Kingdom represents a quarter of the $432 billion trade volume between China and Arab countries in 2022.
Recent collaborations, such as the partnership between ACWA Power and Energy China Group Corp. for a solar power project, highlight the robust ties between Saudi and Chinese firms.
CLICK HERE TO READ MORE ON WEBTHAT NEWS
