Saudi Arabia, China sign deals to bolster joint cooperation

Arab World Materials 15 March 2014 10:11 (UTC +04:00)
Saudi Arabia, China sign deals to bolster joint cooperation
Saudi Arabia, China sign deals to bolster joint cooperation

Saudi Arabia and China signed on Friday four agreements aiming to expand investments between both countries, the Saudi Press Agency (SPA) reported.

Saudi Crown Prince Salman Bin Abdulaziz Al Saud said Friday the deals reflect the Kingdom's desire to enrich bilateral cooperation with China in several areas, including the political, economic, industrial, scientific and technological fields.

SPA quoted Prince Salman as saying the deals "once more confirm the depth of this partnership and its good objectives based on the joint desire to continue the historical ties binding our two peoples."

The first agreement was related to trade sought to curb the flow of forged consumer goods to the Saudi markets.

The second involves sought to boost cooperation in the fields of space sciences and technologies.

The third agreement was about the co-financing of a new building for China's University of Leolyang in Sanche state by the Saudi Development Fund.

The last agreement was on boosting investment between the Saudi Arabian General Investment Authority (SAGIA) and the Investment Development Commission, an affiliate of the Ministry of Commerce of China.

The Saudi crown prince met China's Vice President Li Yuanchao on Friday at the State Council's presidential palace in Beijing.

In earlier talks with President Xi Jinping, Prince Salman hailed China's position "in support of the rights of the Palestinian people."

He also praised the Chinese president's statement on Syria, which stressed on China's aim to reach "a prompt peaceful solution to the crisis in Syria through complete implementation of Geneva I declaration."