- Mr. Mutib A. Al-Harbi, Aramco Asia President, attended the 6th China-Arab States Expo on the occasion of the 10th anniversary of the Belt and Road Initiative (BRI) to elaborate on Aramco’s growth plan in China and reaffirm its confidence in the Chinese market.
Themed as "New Era, New Opportunities, New Future", the 6th China-Arab States Expo was held in Yinchuan, the capital city of Ningxia Hui Autonomous Region, from September 21 to 24. The Expo was aimed to build a platform for exchange and cooperation between Chinese and Arab multinational companies and economic and trade enterprises.
Mr. Mutib A. Al-Harbi, Aramco Asia President, stressed that Aramco’s business growth strategy has been in alignment with the Chinese government agenda in his keynote speech delivered during the Expo. Al-Harbi noted,” We share China's vision of reducing carbon emissions and improving energy efficiency, and we are keen to collaborate with Chinese companies and institutions on these and many other solutions, leveraging our respective strengths in technology, R&D, and innovation. “
Al-Harbi also reaffirmed Aramco’s confidence in and commitment to the Chinese market throughout the event. Commenting on Aramco’s journey and growth plan in China, he said, “China is our largest crude oil market, but our relationship goes beyond crude oil supply. Aramco is also committed to investing in China's downstream sector, especially in highly integrated refining and petrochemical complexes. We have a long-standing successful joint venture in Fujian, and this year, have added additional investments in Liaoning and Zhejiang.”
The expo has been held five times previously in Ningxia, attracting more than 6,000 international and domestic companies with more than 1,200 deals being signed. This year’s four-day event has attracted guests from more than 50 countries. Over 400 projects were signed during the 2023 Expo, with a planned investment and trade amounting to 171 billion yuan (US$23.5 billion).