Saudi Arabia and China have strengthened their economic ties by signing 24 agreements aimed at boosting collaboration between the two countries. These agreements were finalized during the Saudi-Chinese Business Council Forum held in Beijing, which was attended by Saudi Minister of Health Fahd Al-Jalajel.
Speaking at the forum, Al-Jalajel highlighted the strong partnership between Saudi Arabia and China, emphasizing their shared goals in areas such as global health, biotechnology, and robotic technologies. He also underlined the importance of developing local healthcare industries to ensure long-term sustainability. The discussions at the forum revolved around key sectors like healthcare, biotechnology, and private investments, all of which align with Saudi Arabia’s Vision 2030 – a strategic plan aimed at diversifying the country’s economy and reducing its dependence on oil.
The economic relationship between Saudi Arabia and China has seen significant growth in recent years. In 2023, the trade volume between the two nations reached SR70.4 billion, reflecting their robust trade partnership. The Saudi-Chinese Business Council has played a key role in this success by fostering economic cooperation, facilitating the exchange of knowledge, and promoting joint projects in advanced technology.
Through these newly signed agreements, both countries aim to deepen their collaboration in critical areas such as healthcare innovation and biotechnology, while also encouraging investments in cutting-edge technologies. These efforts are expected to open new opportunities for businesses and contribute to economic growth in both nations.
The forum marked another milestone in the evolving partnership between Saudi Arabia and China, showcasing their commitment to working together on initiatives that not only benefit their economies but also drive advancements in technology and healthcare on a global scale.
