RIYADH: Chinese President Xi Jinping will arrive in Saudi Arabia on Wednesday for a two-day visit that will include meetings with several Arab leaders, the Saudi state news agency SPA reported on Tuesday.
The visit is aimed at developing economic ties and strengthening what SPA described as a “strategic partnership” between China and Saudi Arabia, its main oil supplier, with dozens of agreements expected on energy and investments.
However, Xi may also discuss regional security with King Salman and Crown Prince Mohammed bin Salman in his first visit to the kingdom since early 2016.
The Chinese leader will also attend a summit with Gulf Cooperation Council countries and a wider gathering of Arab leaders hosted by Riyadh, SPA reported.
China sees Saudi Arabia as its key ally in the Middle East due its importance as an oil supplier.
Foreign Minister Wang Yi said in October that Saudi Arabia was a “priority” in China’s overall and regional diplomatic strategy.
China, the world’s biggest energy consumer, is a major trade partner of Gulf oil and gas producers and while economic ties remain anchored by energy interests, bilateral relations have expanded under the region’s infrastructure and technology push.
Saudi Arabia is China’s top oil supplier, making up 18 per cent of China’s total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners.
Riyadh has said that strengthening trade ties and regional security would be priorities during Xi’s visit, during which the kingdom will host a China-Gulf summit and a China-Arab summit that diplomats say will involve dozens of agreements and MoUs.
Outside energy, GCC states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing’s Belt and Road Initiative.
“The GCC wants FDI (foreign direct investment) which not only caters to local demand, but also allows these economies to integrate into global supply chains,” said Fareed Mohamedi, Managing Director at SIA Energy International. “The Chinese companies will help do that, first on an Asia regional level, then beyond.” – Agencies
