Riyadh gears up for big Arab-China business event

Final preparations are underway in Riyadh, Saudi Arabia for what is expected to be the largest Arab-Chinese business event to date, as the Saudi capital gears up for a record number of delegates to the 10th Arab-China Business Conference.

Saudi Ministry of Investment anticipates that about 3,000 delegates — comprising decision-makers, government officials, investors, business owners and experts from 23 countries — will attend the event that will be held at the King Abdulaziz International Conference Center from June 11 to 12, according to an Arab News report.

There will be huge participation from China amid blooming China-Arab ties following Chinese President Xi Jinping's visit to the Gulf nation in December.

Saudi Minister of Investment Khalid Al-Falih said Saudi Crown Prince Mohammed bin Salman's patronage of the event reflects the commitment of the Saudi leadership to foster strategic partnerships with global economic powers.

The conference will be the first high-level meeting of such importance following the success of the 32nd Arab League summit in Jeddah in May, which, for the first time since 2011, saw the participation of Syrian President Bashar al-Assad after the 22-member Arab League lifted a more than decade-long suspension, which had been put in place over Assad's handling of demonstrations, which escalated into a full civil war, within his nation.

The meeting also assumes added significance as it comes after Saudi Arabia and Iran agreed in March to give their relations a fresh start following talks largely credited to China's diplomatic involvement.

The Saudi Ministry of Investment, in partnership with the Arab League secretary-general, the China Council for the Promotion of International Trade, and the Union of Arab Chambers, are jointly organizing the two-day conference that bears the theme "Collaborating For Prosperity".

It aims to support and promote cooperation in the areas of economy, trade, and investment to achieve solutions of common interest for Arab nations and China through strategic collaboration, according to the Arab-China Business Conference website.

Saudi Foreign Affairs Minister Prince Faisal bin Farhan will grace the opening of the conference on June 11, media reports have said.

The agenda includes more than 20 panel discussions and workshops that range from investment in China's Belt and Road Initiative, renewables, the oil and gas supply chain, gaming and e-sports, tourism and entertainment diversification, as well as agriculture and technology, and the signing of memorandums of understanding.

At a press conference on June 5, Chinese Foreign Ministry Spokesperson Wang Wenbin said the business symposium is an important institutional event under the framework of the China-Arab States Cooperation Forum, and that, since 2005, nine business conferences and seven investment symposiums have been held to date.

"The success of the first China-Arab States Summit at the end of last year has injected fresh impetus into the development of China-Arab relations and practical cooperation across the board," said Wang.

"We hope this Business Conference and Investment Symposium will be a great opportunity for the Chinese and Arab business communities to have in-depth exchange, foster friendship and discuss cooperation," he added.