Saudi Arabia committed to being ‘bridge’ linking Arab, China: Al-Falih

Saudi Arabia is committed to serving as a bridge connecting the Arab World with China, supporting the growth and development of bilateral ties. This is particularly because the Kingdom is deemed the largest economy in the Middle East and the fastest growing in the world over the past year, said Investment Minister Khalid Al-Falih.

In his opening speech at the Arab-China Business Conference held in Riyadh, Al-Falih said the Saudi-China relations significantly strengthened over the past few decades, as Saudi Arabia is a major partner for China in the Arab World and a gateway to it.

Furthermore, the capabilities enjoyed by the Arab world point to a comprehensive renaissance towards growth and expansion. They also create huge opportunities for its next renaissance, and for economic, commercial and investment cooperation, in which China's participation is welcomed, said the minister.

"We will work with China to seize the great opportunities available to us, because we believe in the large-scale integration of our economies,” he stated.

Al-Falih also explained that growth in mutual trade, and the compatibility of needs and capabilities create many, diverse and promising opportunities for investment, indicating that amid the huge transformation witnessed by China towards becoming a country that exports investment.

This is besides being a leading source of innovation and capital; it is time for China to be a major investment partner in the process of development in the Arab region, he continued.

He highlighted the growth of China's foreign direct investment abroad at a rate of 20% annually over the past decade. The Arab accounted for about $23 billion, the minister added, indicating aspirations for more.

Source : Argaam