Saudi Arabia, China strengthen economic ties with new trade agreement.
During an official visit to the People’s Republic of China, Saudi Arabia and China signed a memorandum of understanding for the Committee on Trade, Investment, and Technology. This agreement underscores the depth of economic relations between the two nations and their shared commitment to enhancing cooperation in vital sectors.
Saudi Investment Minister Khalid Al-Falih announced via the Ministry of Investment’s X account that he had met with Chinese Commerce Minister Wang Wentao. The two officials discussed strategies for advancing cooperation in global trade and increasing direct investments across several key sectors. Al-Falih emphasized that the signed memorandum serves as a practical framework for furthering bilateral relations.
The visit also included a significant meeting with Shanghai Mayor Gong Zheng, focusing on ways to bolster joint efforts toward achieving the objectives of the high-level Saudi-Chinese committee and enhancing investment integration between the two countries.
Furthermore, the ministry conducted an extensive workshop in Shanghai, involving more than 60 Saudi and Chinese companies. This session focused on discussing the integrated value chain and reviewing sectoral opportunities, thereby supporting the establishment of strategic partnerships aligned with the ambitions of Saudi Vision 2030.
These initiatives reflect a broader strategy to enhance investment and economic cooperation between Riyadh and Beijing, while also exploring growth opportunities in priority sectors. They reaffirm the Kingdom’s commitment to expanding its global partnerships and diversifying its sources of investment.
In addition, the strategic cooperation between Saudi Arabia and China is highlighted by significant economic statistics and recent agreements that emphasize the deepening ties beyond the initial memorandum. In May 2025, during the Saudi-Chinese Business Forum held in Beijing, the two countries signed 57 agreements and memoranda of understanding worth approximately SAR 14 billion ($3.7 billion), focusing particularly on agriculture, water, environment, fisheries, and livestock sectors. This strategic collaboration aligns closely with both Saudi Arabia’s Vision 2030 goals and China’s Belt and Road Initiative (BRI), reinforcing the countries’ shared ambitions for sustainable economic diversification and food security. China remains Saudi Arabia’s largest trading partner, responsible for 18 percent of the Kingdom’s foreign trade, underscoring the weight of bilateral relations.
Source: Economymiddleeast