Sino-Saudi trade ties expected to expand

By Zhong Nan and Wang Qian in Jinan ( China Daily ) Updated: 2016-01-20 08:14:37

China and Saudi Arabia may develop closer economic cooperation and stronger trade ties this year, as their products are complementary and they have reached a consensus on the Belt and Road Initiative, according to Chinese exporters and commerce officials.

The initiative includes the Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by President Xi Jinping in 2013, covers about 4.4 billion people in more than 60 countries and regions.

Zhi Luxun, deputy director-general of the Commerce Ministry's Department of Foreign Trade, said oil trade lies at the heart of their business ties. But Saudi Arabia's surging demand for upgrading its infrastructure - such as oil refineries, roads, airports, and oil tanker and container ports - is also providing opportunities for Chinese project contractors and manufacturers.

Sino-Saudi trade ties expected to expand

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