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FINANCIAL NEWS
China to deepen trade relations with Saudi
21 Feb 2014
(MENAFN) China and Saudi Arabia have reported a record high in trade between them, and is expected to keep growing in the coming years, according to Arab News.
Chinese Ambassador to Saudi Arabia Li Chengwen said: “The two countries have mutually beneficial economic and trade relations, and they still do. Saudi Arabia is one of the most important trade partners at the economic and trade cooperation level, and the largest among Arab and African countries in the last 12 years.”
China is expected to rank first as the largest importer of oil from the Middle East, replacing the United States.
The ambassador said: “This is the reason for my government being very keen on boosting economic relations with Saudi Arabia since the Chinese economy is in need of a stable and continuous energy supply, and the Saudi economy needs the wide and extended energy markets.”
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