Minister of Industry and Mineral Resources Bandar Al-Khorayef is heading Saudi Arabia's delegation, participating in the sixth China-Arab States Expo, held from September 21 to 24 in the Chinese city of Yinchuan.
In this edition of the expo, Saudi Arabia is participating as the guest of honour.
The Saudi Export Development Authority (Saudi Exports) is organizing the Saudi pavilion at the expo, which includes eight government agencies and over 18 leading national companies in the food, building materials, services, transportation, and logistics sectors.
Through the pavilion, Saudi Exports aims to enhance trade and economic cooperation between the two countries, open new export channels for Saudi companies in the Chinese market, and complement its role in promoting Saudi products and services and increasing their market shares in global markets. The Chinese market is up-and-coming; therefore, the Kingdom hopes to enhance its contribution to the non-oil GDP.
Al-Khorayef said that the China-Arab States Expo is an extension of the strong relations, economic and trade ties between Arab countries and the People's Republic of China, adding that choosing Saudi Arabia as the guest of honour reflects the depth and strength of relations between the two countries and constitutes a solid base for establishing many partnerships in the economic and trade aspects.
He stressed that the Kingdom and Arab countries can significantly benefit from the progress achieved by China in recent years, especially in technology, artificial intelligence, and 3D printing. He also highlighted that Saudi Arabia is China's top trading partner in the Middle East.
Saudi Exports CEO Abdulrahman Althukair said that the non-oil trade balance between the Kingdom and China for 2022 amounted to SAR110 billion, adding that Saudi exports to China amounted to SAR37 billion, and imports from China amounted to SAR147 billion. He added that Saudi non-oil exports to China in the past five years (2018-2022) amounted to SAR177.6 billion.
This year's edition of the expo will see the signing of several agreements and memorandums of understanding. It will provide investment opportunities and promising strategic partnerships in various fields between the Saudi and Chinese sides.
The minister of industry and mineral resources has recently begun an eight-day official visit to the People's Republic of China intending to strengthen the economic partnership between the Kingdom of Saudi Arabia and China in the industrial and mining sectors and highlight the Kingdom's initiatives aimed at advancing these two strategic sectors.
The Saudi delegation includes a number of government agencies, including the ministries of Industry and Mineral Resources, Foreign Affairs, Investment, Energy, Transport and Logistics, Environment, Water and Agriculture, the National Industrial Development and Logistics Program, the Saudi Exports, the Saudi Standards, Metrology, and Quality Organization, the Saudi Authority for Industrial Cities and Technology Zones (Modon), the National Industrial Development Center, the Saudi Export-Import Bank, the Riyadh Chamber, and over 18 Saudi companies within the "Made in Saudi" program.