Saudi Press Agency, Riyadh, 21 Dhul-Hijjah 1445 AH / June 27, 2024 – The economic relations between the Kingdom of Saudi Arabia
and the People's Republic of China are increasingly solid, particularly given China's position as the world's second-largest economy
and one of the largest consumer and manufacturing markets globally.
According to the General Authority for Statistics in Saudi Arabia, the 2024 Q1 International Trade Report shows that China is Saudi Arabia's
largest export destination, accounting for 15% of the total export value. This reflects the extensive and deep economic and trade cooperation between the two countries.
In the past five years (2019-2023), Saudi Arabia's non-oil exports to China exceeded USD 52.04 billion (CNY 337.92 billion), with the
chemical and polymer industries leading, followed by the metals industry. This data further confirms China's position as an important market for Saudi products.
To promote the entry of Saudi non-oil products into the Chinese market, the Saudi Export Development Authority has taken a series of
measures. These measures include actively participating in various specialized international exhibitions held in China, helping Saudi exporters
showcase their products and services, and reaching trade agreements to expand exports. Additionally, the Saudi Export Development Authority
is dedicated to resolving challenges faced by exporters in customs, non-tariff restrictions, finance, and logistics, working with relevant departments
to find practical solutions to enhance the competitiveness of enterprises in the Chinese market.
It is worth noting that the efforts of the Saudi Export Development Authority are an important part of the Kingdom of Saudi Arabia's strategy to strengthen
its relations with China. In 2016, the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received Chinese President Xi Jinping,
during which Saudi Arabia and the Chinese government signed several agreements and memorandums of understanding, including cooperation on the Belt
and Road Initiative, the 21st Century Maritime Silk Road, and production capacity cooperation.
Saudi Arabia's relations with China were further strengthened after the visit of Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud
to the People's Republic of China in 2019.
Source：
Internet
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