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China, Saudi Arabia to Enhance Economic Cooperation
China and Saudi Arabia plan to further intensify cooperation in trade and economic sectors and enhance understanding and friendship among entrepreneurs.
Sino-Saudi cooperation in trade and economic sectors has expanded significantly in recent years. The exchange of visits between Chinese President Jiang Zemin and Saudi Crown Prince Abdullah Ibn Abdul-Aziz and the establishment of a strategic partnership between the two countries have injected new vitality into the further development of bilateral trade and economic ties.
Latest statistics released by the General Administration of Customs show that the Sino-Saudi trade volume during the first nine months of this year totaled US$2.139 billion, up 77 percent from the same period last year.
However, both sides are aware of the need to enhance cooperation among their enterprises, in a bid to further expand areas of cooperation and boost trade and economic development between the two countries.
The Sino-Saudi symposium on trade and economic cooperation, which opened here Monday, will provide an opportunity for Chinese and Saudi entrepreneurs to hold discussions on diverse issues, including investment, know-how transfer, trade, contractual engineering and bilateral cooperation in other sectors, such as electronics, textiles, farm produce, real estate, water treatment and telecommunications.
The symposium, co-sponsored by China-Saudi Friendship Association and Council of the Saudi Chambers of Commerce and Industry, was attended by almost 200 entrepreneurs from China and Saudi Arabia.
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