China’s Saudi visit reveals GCC goals for economic alternatives
China’s presidential visit to Saudi Arabia is expected to yield a host of deals as the GCC increasingly looks eastward on trade.
Chinese President Xi Jinping arrived in Saudi Arabia today for a three-day visit in which he is expected to discuss prospects for economic and development cooperation with the kingdom and other Arab states via trade and investment in a variety of industries, including non-oil sectors.
It is the first time in nearly seven years that the Chinese president visits the key energy ally to discuss ambitions for an initial agreement of $29.26 billion, according to the Saudi state news agency.
Saudi, the world’s largest crude supplier, and China, the biggest energy consumer, are positioned to help each other reach their economic expansion goals.
Beijing steps in
