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Enhance Sino-Saudi economic, trade links

(Xinhua)
Updated: 2008-06-23 10:45

Saudi king Abdullah (L) welcomes Chinese Vice President Xi Jinping at the opening ceremony of the Jeddah Energy Meeting held in Saudi western port city of Jeddah on June 22, 2008.[Agencies]

Visiting Chinese Vice President Xi Jinping on June 22 presented a three-point proposal on deepening economic and trade cooperation between China and Saudi Arabia.

He made the proposals at the opening ceremony of a seminar on China-Saudi economy and trade held in the western port city of Jeddah.

The two countries should make careful plan for the future development of their bilateral economic and trade cooperation from the perspective of strengthening the friendly and cooperative strategic partnership between the two countries, said the vice president.

He stressed the importance of mutual respects, treating each other with sincerity and maintaining friendly cooperation, noting that these are the basis and guarantee for the smooth growth of economic and trade cooperation between the two nations.

Xi urged the businesses communities of the two nations to act on these principles to develop a sincere partnership that furthers not only the interests of the two countries' enterprises, but also serves as a bridge of friendship between the two peoples.

He also urged the two countries to adhere to the road of common development and win-win cooperation of mutual benefit, noting that with their natural resources and industrial structures varying greatly, the two countries are highly complementary to each other and enjoy great potential for further cooperation as both are in the stage of rapid economic growth.

He called on the enterprises of the two countries to bring into play their respective advantages to expand the scale of the bilateral trade and actively make mutual investment.

Xi also expressed hope that business communities of the two nations could blaze new trails and explore new spheres for cooperation in such fields as high technology, vocational education and environmental protection.

Saudi Arabia has become China's largest trading partner in West Asia and Africa. Bilateral trade volume reached $25.36 billion in 2007, more than 80 times that when the two countries forged diplomatic relations 18 years ago.