JEDDAH: Saudi Arabia and China signed 42 investment agreements worth over $1.74 billion across advanced industries, smart vehicles, and energy.
The deals, which also covered medical devices, equipment, and mineral resources, were inked at the Saudi-Chinese Business Forum in Beijing, attended by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, as part of his official visit.
Organized by the Federation of Saudi Chambers, the forum gathered around 200 companies and public and private sector representatives from both countries, the Saudi Press Agency reported.
This follows growing bilateral trade between Saudi Arabia and China, which surpassed SR403 billion ($107.5 billion) in 2024 — more than doubling in less than a decade — driven by shared goals such as Saudi Vision 2030 and China’s Belt and Road Initiative.
In a post on his X handle, Alkhorayef said: “During my participation in the Saudi-Chinese Business Forum in the capital, Beijing, I affirmed the strength of the partnership between our two friendly nations, and the Kingdom’s keenness to expand this partnership to support our goals in industry and mining, strengthen international supply chains, and enhance our presence as an economic force contributing to the growth of the global economy.”
