Strategic partnership between Saudi Arabia and China in the industrial and mining sector is important and crucial, the Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef said.
Cooperation between the two countries has witnessed remarkable growth during the past five years, Al-Khorayef is cited by Saudi Press Agency as saying.
Non-oil exports during 2021 amounted to more than SR36 billion ($9.5 billion), while the Kingdom’s imports from China during the same period reached SR112 billion riyals, Al-Khorayef said.
Topping the list of Saudi’s exports to China were Petrochemicals and minerals as well as heavy machinery, electronics, vehicles and spare parts he explained.
Moreover, joint projects account for an important part of the volume of cooperation between the two countries. The Saudi Industrial Fund, alone, contributes to financing six joint projects.
Source: www.arabnews.com
