Beijing: China and Saudi Arabia have pledged to deepen their cooperation in areas such as trade, investment, and industrial and supply chains, while also showing joint support for a multilateral trading system. This commitment was highlighted during a meeting between China's Commerce Minister Wang Wentao and Saudi Investment Minister Khalid Al-Falih.

According to Anadolu Agency, the meeting occurred ahead of the China-Arab States Expo, a four-day event starting Thursday in Yinchuan, northwest China's Ningxia Hui autonomous region. During the meeting, both sides exchanged views on strengthening cooperation in trade, investment, and industrial and supply chains, as reported by Beijing's Commerce Ministry.

This year marks the 35th anniversary of diplomatic relations between China and Saudi Arabia. Minister Wang expressed China's readiness to align its Belt and Road Initiative with Saudi Arabia's Vision 2030. He emphasized expanding bilateral trade, enhancing two-way investment, and broadening cooperation in new energy, supply chains, and capital markets to fortify economic ties.

Both countries recognized the severe challenges the global economy currently faces and the strain on the multilateral trading system. They emphasized the importance of platforms such as the G20 and WTO, advocating for strengthened coordination, the safeguarding of international trade rules, and the upholding of multilateralism through openness and cooperation.

Minister Al-Falih reiterated Riyadh's readiness to deepen trade cooperation, support Saudi companies in expanding investments in China, and welcome more Chinese companies to invest in Saudi Arabia. He noted that the two countries would strengthen practical cooperation in advanced manufacturing, new energy, supply chains, and industrial parks, further enriching their comprehensive strategic partnership. Saudi Arabia supports multilateralism and is prepared to collaborate with China to safeguard the multilateral trading system and global trade rules.

In a related event, a China-Saudi Arabia dialogue took place in Beijing, covering both government and business sectors. During this dialogue, Chinese and Saudi enterprises engaged in direct exchanges, focusing on major project cooperation, industrial chain alignment, and investment opportunities.