The signing of the agreement
Saudi Arabia and China agreed to jointly coordinate their investments in the countries of the Belt and Road Initiative (BRI).
The proposed cooperation aims to ensure the security demand of oil and gas supplies in the initiative countries, Saudi Press Agency (SPA) reported.
During the fourth meeting of Belt and Road Major Investment Projects and Energy Subcommittee, which falls under the China-Saudi Arabia High-level Joint Committee, the two parties discussed fields of cooperation which focused on petroleum, petrochemicals, decarbonization technologies, electricity, renewable energy, hydrogen, energy efficiency, peaceful uses of nuclear technology, supply chain security, in addition to industrial cooperation, the fourth industrial revolution, mining, logistics, civil aviation, aviation security, and the digital economy.
Saudi Arabia considers China a strategic partner, Prince Abdulaziz bin Salman, Minister of Energy and head of the Saudi side, stated.
He added that Belt and Road Major Investment Projects and Energy Subcommittee seeks to enhance the alignment between Kingdom and China’s visions for future, especially in the energy field, which includes many aspects of cooperation.