17:59 GMT +326 March 2017
Live
    Chinese President Xi Jinping, second from right, and Saudi Arabia's King Salman, right inspect a Chinese guard of honor during a welcome ceremony in Beijing, China, Thursday, March 16, 2017

    China, Saudi Arabia Sign 14 Cooperation Agreements Worth $65Bln - Beijing

    © AP Photo/ Ng Han Guan
    Business
    Get short URL
    392389

    Chinese Vice Minister of Foreign Affairs said that China and Saudi Arabia signed Thursday 14 agreements on cooperation in the spheres of investments, energy and space worth $65 billion.

    BEIJING (Sputnik) China and Saudi Arabia signed Thursday 14 agreements on cooperation in the spheres of investments, energy and space worth $65 billion, Chinese Vice Minister of Foreign Affairs Zhang Ming said.

    "Chinese President Xi Jinping held a meeting with Saudi Arabia's King… The parties have signed at the just finished meeting a total of 14 agreements. They include 35 large projects amounting to approximately 65 billion dollars," Zhang told reporters.

    The Chinese deputy foreign minister noted that the agreements covered the spheres of investments, science, infrastructure, energy, space and a number of others.

    Earlier in the day, Xi and King Salman held a meeting at the Great Hall of the People in Beijing to discuss bilateral cooperation, as well as a number of international issues, including countering terrorism, Israeli-Palestinian conflict, the situation in Syria and Yemen. On Friday, the Saudi king will meet with Premier of China’s State Council Li Keqiang and Chairman of the Standing Committee of the National People's Congress Zhang Dejiang.

    Never miss a story again — sign up to our Telegram channel and we'll keep you up to speed!

    Related:

    China-Russia Cooperation to 'Be Equally Auspicious in the Future'
    Russia, China Agree to Expand Cooperation in Fight Against Terrorism - Ministry
    China, France to Intensify Nuclear Energy Cooperation - Chinese Premier
    Tags:
    cooperation, Zhang Ming, Saudi Arabia, China
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment

    All comments

    • Drain the swamp
      Iran and Iraq are going to keep oil price low and finish off these camel herders and caravan thieves from Basra who became "royalty" in Arabia, thanks to guns from Queen Victoria supplied by Lawrence of Arabia. The fake royalty of 3,000 al-sods will be butchered the day al-ghamdy (majority tribe there) wife insists she wants to drive a car like women everywhere else. The fake cult of wahabi "Islam", which legitimizes the caravan thieves, is responsible for all the extremist nonsense afflicting muzzys throughout the world, it has trained over 200,000 cultist clerics in Riyadh, who are now spread ALL over the world !!
    • avatar
      goldcamshaft
      For decades the Saudis depended upon technologies from other countries to lift them over the tide of failure. Instead of investing in the country and developing their own technologies, like what Iran did, they outsourced their main life-line. Now, decades later, Iran is pretty much self-sufficient in almost all facets of technology, the Saudis realize that they cannot play catch up utilizing their own steam...So they must invest in the various fields in other countries. This makes sense to a point, because upon economic analysis, they have finally realized that the Opportunity Cost (the next best alternative) is more attractive than the subject project, but they still will not have the autonomy Iran enjoys today. These investments will only pay off if technological know-how is transferred to Saudi Arabia.
      India has come a long way by means of technology transfer.
      I doubt whether China will transfer any technological know-how.
    Show new comments (0)