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Saudi Arabia, one of the key partners of the United States in the region, seeks to develop cooperation with China, despite the concerns of Western countries. This was stated by the Minister of Energy of Saudi Arabia, Prince Abdul Aziz bin Salman Al Saud, speaking at the Tenth Conference of Arab and Chinese entrepreneurs in Riyadh.
"Today's reality is that China occupies, has occupied and will continue to occupy a leading position. We should not compete with China, we should cooperate with it," the minister said, whose speech was broadcast by Asharq TV channel. "Cooperation with China is advisable because they have taken the initiative to attract the right manufacturers."
When asked how the minister perceives the criticism that Western countries are subjecting Saudi Arabia to for expanding economic and political ties with China, he said that he "actually ignores it." "Like any business person, you will go where there are appropriate opportunities," he added.
The tenth Conference of Arab and Chinese entrepreneurs is being held on June 11-12 in Riyadh under the slogan "Cooperation for prosperity". The event, organized by the Ministry of Investment of Saudi Arabia, is aimed at strengthening economic cooperation between China and the countries of the Arab world. The conference is attended by more than 3 thousand people - high-ranking officials and representatives of large businesses.
According to the Saudi Press Agency, on the first day of the conference, its participants signed dozens of investment agreements worth more than $ 10 billion. Among them is a $533 million agreement between Amar Al-Oula and Zhonghuan International Group, which involves the construction of an iron ore processing plant in Saudi Arabia, as well as a $500 million agreement between ASK Group and the Chinese National Geological and Mining Company on the development of a copper mining project in the kingdom.
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