HRH Prince Abdlulaziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia, met with HE Lian Weiliang, Vice Chairman of the National Development and Reform Commission of China.
The meeting was the fourth gathering of the Belt and Road Major Investment Projects and Energy Subcommittee, of which Prince Abdulaziz is the Saudi Chairman. This Subcommittee is under the the Saudi-China High-Level Joint Committee, which is chaired by HRH the Crown Prince.
Prince Abdulaziz said: “Saudi Arabia has always considered China as a strategic partner, and that the Committee strives for further alignment between the Saudi and China visions of the future, especially in the energy sphere, where there are multiple synergies.
“The trade relationship between the two countries is achieving continuous annual growth in the past 5 years with China the number one export destination for the oil Kingdom’s exports. The Kingdom will continue to be its reliable and trusted partner,” the Prince added. On the other hand, H.E Mr. Lian affirmed on Kingdom's efforts in maintaining the stability of global oil markets
In the meeting, the co-chairs discussed areas where Saudi Arabia and China look to strengthen their relationship, such as oil and petrochemicals, decarbonization technologies, electricity and renewables, hydrogen, energy efficiency, civil nuclear energy, and supply chain security, in addition to industrial cooperation, the fourth industrial revolution, mining and logistics, civil aviation and aviation security, and digital economy.
In addition they agreed to jointly coordinate investments in the countries of the Belt & Road Initiative (BRI). The proposed cooperation aims to ensure oil supply and demand security to B&R countries.
