China Hopes to Expand Trade with Saudi Arabia: Vice-premier

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Last updated at: (Beijing Time) Friday, January 17, 2003

China Hopes to Expand Trade with Saudi Arabia: Vice-premier

China hopes that entrepreneurs from China and Saudi Arabia will expand cooperation for common development and prosperity, Vice-Premier Wen Jiabao said Friday.

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China hopes that entrepreneurs from China and Saudi Arabia will expand cooperation for common development and prosperity, Vice-Premier Wen Jiabao said Friday.

Wen made the remark in a meeting with Abdul Rahman Al-Jeraisy, president of the Saudi Arabia-China Friendship Association and chairman of the Council of Saudi Chambers of Commerce and Industry,and his party.

He said China values relations with Saudi Arabia and bilateral ties have achieved good development since the two nations forged their diplomatic ties in 1990.

Friendly cooperative ties started to make progress after Saudi Crown Prince Abdullah visited China in 1998 and Chinese President Jiang Zemin visited Saudi Arabia in 1999, Wen said.

The international situation is experiencing profound changes, he said, and it is in conformity with the interests of the two peoples to strengthen bilateral ties.

China is willing to make joint efforts together with Saudi Arabia to push forward bilateral relations on the basis of mutual-respect, equality and mutual-benefit, Wen added.

Jeraisy said that trade and economic cooperation with China has developed smoothly since the two nations forged their diplomatic ties. The Saudi government and enterprises are both interested in cooperating with China.

He said he hopes that enterprises from the two nations could enhance exchanges and Saudi entrepreneurs are ready to take part in China's economic progress.

Saudi Arabia, China enhance trade cooperation

A non-governmental joint commercial committee was set up Friday to strengthen the trade ties between China and Saudi Arabia.

The memorandum on the establishment of the joint commercial committee was signed here Friday by the China-Saudi Arabia Friendship Association and the Council of Saudi Chambers of Commerce and Industry (CSCCI).

CSCCI Secretary-General Fahad Bin Saleh Al-Sultan said at the signing ceremony that the joint commercial committee is a new channel for the enterprises to tap the two markets and his country hopes to enchance its cooperation with China in the fields of natural gas and power transformation and transmission.

The committee, consisting of entrepreneurs and business people from China and Saudi Arabia, will organize business forums, encourage enterprises to hold exhibitions in the two nations and make suggestions to the governments to facilitate bilateral trade.

China's imports from Saudi Arabia are mainly petroleum and chemical products while its exports to Saudi Arabia include fabricand textiles, electric machinery and daily-use commodities.

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