Seeking synergy, mutual cooperation with China

commerce

An Aramco Asia delegation led by Aramco Asia President and CEO Nabil A. Al-Nuaim met recently with Gao Hucheng, China’s Minister of Commerce, during a visit to the Ministry of Commerce (MOFCOM).

The meeting gave both parties an opportunity to reiterate their shared willingness to push forward cooperation between China and Saudi Arabia and Saudi Aramco.

Synergy between Vision 2030 and the Belt and Road Initiative

Al-Nuaim began the meeting by briefing Gao and MOFCOM attendees on Saudi Vision 2030. “The Saudi Vision 2030 is highly complementary and has strong synergy with China’s Belt and Road Initiative and the country’s 13th Five-Year Plan,” said Al-Nuaim. “It provides us with tremendous opportunities in both government-to-government cooperation and also within the business communities.

In light of that, Saudi Aramco would like to have MOFCOM’s guidance and advice on how to tap into these opportunities to promote strategic and sustainable cooperation for the well-being of both countries.”

During President Xi Jinping’s visit in January, Saudi Aramco signed two MOUs, one with Yinchuan ETDZ and the other with Guangzhou ETDZ, helping to promote investment.

“The MOUs came at the perfect time, when Saudi Arabia and China have forged strong relations, and China is in the midst of implementing the Belt and Road Initiative,” said Al-Nuaim. “Saudi Aramco is poised to play a key role to facilitate the investment of Chinese companies in Jazan Economic City and other places in the Kingdom.”

Al-Nuaim further shared Saudi Aramco’s strategy to accelerate downstream investments in China that would successfully access the Chinese retail market. He also highlighted that Aramco Asia will attentively address the issues facing Chinese vendors and contractors willing to do business with Saudi Aramco in particular and Saudi Arabia in general.

Support from afar for Kingdom’s initiatives

Gao conveyed MOFCOM’s congratulations to HE Khalid A. Al-Falih on his new appointment as the Minister of Energy, Industry and Mineral Resources for Saudi Arabia, and he wished the Kingdom success in implementing the national vision. He also expressed MOFCOM’s full support for the implementation of these game-changing strategies and cooperation opportunities with Saudi Aramco.

The meeting was a follow-up of a wide range of agreements reached during Xi’s state visit to Saudi Arabia in January. Both Aramco Asia and MOFCOM agreed that the topics discussed so far have been important issues and must be further studied and discussed in detail.