Huge contracts signed during Xi Jinping's visit to Saudi Arabia

Huge contracts signed during Xi Jinping's visit to Saudi Arabia
Credit: Belga

China and Saudi Arabia signed contracts worth billions of euros during Chinese President Xi Jinping’s visit to the Gulf oil monarchy.

The three-day visit has been criticised by the United States, a traditional partner of Saudi Arabia, which in recent years has undertaken to expand its economic and political relations.

The series of agreements are worth more than 110 billion Saudi riyals (€27.8 billion)

Arriving in Riyadh, the Chinese president held talks with Saudi Arabia’s de facto ruler and crown prince, Mohammed bin Salman, at the royal palace in Riyadh.

'An important force in a multipolar world'

“I am very happy to visit Saudi Arabia again after six years,” Xi Jinping, head of the world’s second largest economy, said in remarks broadcast by China’s state-run CCTV.

He said China considers the Saudi kingdom “an important force in a multipolar world” and “attaches great importance to developing a comprehensive strategic partnership” with it.

Xi Jinping and the crown prince witnessed the signing of energy agreements on hydrogen and another to coordinate the Saudi economic diversification programme with China’s “New Silk Roads” initiative, according to official Saudi agency SPA.

The signed agreements also cover a petrochemical project, housing development and Chinese language teaching, SPA added.

The Chinese president also attended a separate summit between the heads of the six oil-rich Gulf Cooperation Council states -Saudi Arabia, Qatar, Bahrain, United Arab Emirates, Kuwait, Oman.

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