PNN – Chinese Premier Li Qiang and Saudi Arabia’s Crown Prince Mohammed bin Salman discussed expanding cooperation in various fields including energy, investment and trade at a meeting in Riyadh on Wednesday.
According to the report of Pakistan News Network from “Reuters”, Earlier, Li urged Beijing and the Gulf Cooperation Council (GCC), which includes Saudi Arabia and the UAE, to speed up talks on free trade.
China’s state-run news agency Xinhua reported that Li made these remarks during a meeting with Gulf Cooperation Council Secretary General Jassem Al-Bodayoui in Riyadh.
In this meeting, Al-Bodayawi emphasized the importance of achieving progress and finalizing trade negotiations in the “near future”.
Free trade talks have stalled due to Saudi Arabia’s concerns about cheap Chinese imports.
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According to these sources, Saudi Arabia is concerned that cheap Chinese goods will damage Riyadh’s industrial base and its hopes for domestic production.
China and the Gulf Cooperation Council, which also includes Qatar, Kuwait, Oman and Bahrain, started free trade talks nearly 20 years ago.
According to the Chinese Foreign Ministry statement, Li said the two sides should further expand the scale of bilateral trade, increase cooperation in fields including oil and gas, petrochemicals and infrastructure, new energy and green economy.
According to the ministry, Li said, Saudi Arabia is willing to cooperate closely with China in multilateral affairs to maintain peace, security and stability in the region and the world.
The Ministry of Foreign Affairs announced that Lee arrived in Abu Dhabi on Wednesday evening and is scheduled to meet with the Vice President and Prime Minister of the UAE, Mohammed.
The development of cooperation between the two countries has provided prospects for the success of the negotiations on the free trade agreement between China and the Persian Gulf Cooperation Council, which began in 2004.
Saudi Arabia’s investment minister, Khaled al-Falih, also said: “Any agreement should protect emerging industries in the Persian Gulf, as the region is diversifying into non-oil economic sectors.”