Saudi Arabia, China stress on importance of stable global oil markets

Chinese president extended an invitation to the Saudi King Salman bin Abdulaziz to visit Beijing at an appropriate time for both sides.

Riyadh: In a joint statement on Friday, Saudi Arabia and China stressed the importance of stabilizing global oil markets and the role that Saudi Arabia plays in it, the Saudi Press Agency (SPA) reported.

“The People’s Republic of China welcomed the Kingdom’s role in supporting the balance and stability of global oil markets, and as a major reliable source of crude oil to China,” read the statement.

The statement issued by the two countries at the end of the Chinese-Saudi summit, which was held on Friday, in the capital, Riyadh, during a visit by Chinese President Xi Jinping to the Kingdom.

The two sides also agreed to discuss joint investment opportunities in the petrochemical sector, develop promising projects in technologies for converting oil into petrochemicals, and enhance joint cooperation in a number of fields and projects.

Saudi Arabia and China agree to develop defence and security

On Friday, Saudi Arabia and China announced an agreement on the need to give priority to foreign relations between the two countries and to strengthen bilateral cooperation between the two countries, especially in the defence and security aspects.

In the field of defence and security, the two sides affirmed their determination to develop cooperation and coordination in the fields of defence and to enhance and raise the level of exchange of information and expertise in the field of combating organized crimes, including terrorist crimes.

They also agreed to enhance cooperation, coordinate efforts, and exchange experiences in the areas of early intelligence warning, assessing security risks, and combating information crimes, in a way that serves and achieves the common interests of the two countries.

The two sides reaffirmed the rejection and denunciation of terrorism and extremism in all its forms, and the refusal to link terrorism to any particular culture, race or religion.

The statement indicated that the Chinese president extended an invitation to Saudi King Salman bin Abdulaziz to visit Beijing at an appropriate time for both sides, while King Salman expressed his acceptance of the invitation.

The two sides touched on the most prominent global economic challenges and stressed the importance of joint action to advance comprehensive global development, in a way that achieves benefit for all, and the importance of stability in global energy markets, stability and uninterrupted food supplies of wheat and grains to all countries of the world, and maintaining abundant supply and price stability.

On the Syrian issue, the two sides stressed the need to intensify efforts to reach a political solution to the Syrian crisis that preserves Syria’s unity and territorial integrity, restores its security and rids it of terrorism, and creates the necessary conditions for the voluntary return of refugees. They also affirmed their continued support for the efforts of the United Nations and its Special Envoy for Syria.

The two sides also called on Iran to cooperate with the International Atomic Energy Agency and to maintain the non-proliferation regime.

They also discussed the developments of the Palestinian cause and stressed the need to intensify efforts aimed at reaching a comprehensive and just settlement of the Palestinian-Israeli conflict and finding a real horizon for returning to serious and effective negotiations to achieve peace in accordance with the principle of the two-state solution.

With regard to the situation in Ukraine, the two sides stressed the importance of settling differences by peaceful means, and exerting all possible efforts to reduce escalation in a way that contributes to restoring security and stability, and limits the negative repercussions of this crisis.

The Chinese side also mentioned its six-point initiative on the humanitarian situation in Ukraine, its provision of humanitarian aid to Ukraine, and its call to prevent a large-scale humanitarian crisis.

In turn, Saudi renewed its commitment to the one-China principle.

While China rejected any attacks targeting civilians and Saudi territory, resolutely opposing any interference in the internal affairs of the Kingdom.

While the two sides agreed to enhance cooperation in the field of peaceful uses of nuclear energy, they affirmed their determination to increase the volume of non-oil trade exchange, and the importance of concluding a free trade agreement between the Cooperation Council for the Arab States of the Gulf and China.

On Wednesday, the Chinese president arrived in Saudi Arabia, on an official visit that will last until Friday to discuss strengthening the historical relations and strategic partnership between the two countries.

On Thursday, December 8, 2022, Saudi King Salman bin Abdulaziz signed, with Chinese President Xi Jinping, the comprehensive strategic partnership agreement between the two countries.

The Chinese president will attend two summits; Arab and Gulf, in the presence of more than 30 leaders of countries and international organizations, later today, Friday.

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