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SAUDI-SINO TRADE LIKELY TO GROW %60 
©Saudia-Online.com

RIYADH DEC 24,2000
CHINESE AMBASSADOR WU SIKE HAS PREDICTED THAT TRADE BETWEEN THE KINGDOM AND THE PEOPLES' REPUBLIC OF CHINA IS LIKELY TO GROW BY 60 PER CENT THIS YEAR.

A PRESS STATEMENT PUBLISHED TODAY SAID THE TWO-WAY TRADE INCREASED FROM SR 6.7 BILLION IN 1999 TO SR 9 BILLION DURING THE FIRST 11 MONTHS OF THE CURRENT YEAR, HE SAID.

CHINA IMPORTS MAINLY OIL AND PETROCHEMICAL PRODUCTS FROM THE KINGDOM. 'THE TWO SIDES HAVE INTENSIFIED MOVES TO FORGE CLOSER COOPERATION IN THE ECONOMIC SECTOR. THIS WILL RECEIVE A MAJOR BOOST FOLLOWING THE RECENT VISIT OF PRINCE SULTAN BIN ABDULAZIZ, THE SECOND DEPUTY PREMIER, MINISTER OF DEFENSE AND AVIATION AND INSPECTOR GENERAL,' THE AMBASSADOR NOTED THE CHINESE AMBASSADOR SAID THE KINGDOM WAS A 'BIG POLITICAL AND ECONOMIC POWER IN THE MIDDLE EAST, PLAYING A DECISIVE ROLE IN PROMOTING ARAB UNITY, PUSHING FORWARD THE MIDDLE EAST PEACE PROCESS, MAINTAINING SECURITY IN THE GULF REGION AND STABILIZING THE INTERNATIONAL ENERGY MARKET. CONSEQUENTLY, THE CHINESE GOVERNMENT ATTACHED GREAT IMPORTANCE TO IMPROVING TIES WITH SAUDI ARABIA.

AMBASSADOR WU HIGHLIGHTED THE VISIT OF A SAUDI DELEGATION FROM THE COUNCIL OF SAUDI CHAMBERS OF COMMERCE AND INDUSTRY TO BEIJING LAST MONTH. HE SAID THE VISIT PAVED THE WAY FOR FURTHER COOPERATION IN TRADE AND COMMERCE

Source: SPA 12/24/00 8:51:30 PM   ©Saudia-Online.com

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24 December 2000 10:29:08 PM