Saudi Arabia, China seal 15 deals

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SUCCESSFUL VISIT: Deputy Crown Prince Mohammed bin Salman and Chinese Vice Premier Zhang Gaoli clap after Saudi delegation members signed several important memorandums of understanding with Chinese officials in Beijing on Tuesday. (SPA)
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Saudi Deputy Crown Prince Mohammed bin Salman (center left) and China’s Deputy Prime Minister Zhang Gaoli (center right) witness the signing of memorandums of understanding between the two countries on Tuesday in Beijing. (SPA)
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Saudi and Chinese delegations led by Deputy Crown Prince Mohammed bin Salman (second left) and Chinese Vice Premier Zhang Gaoli (right) meet in Beijing on Tuesday. (SPA)
Updated 31 August 2016
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Saudi Arabia, China seal 15 deals

BEIJING: Saudi Arabia and China signed 15 preliminary agreements on Tuesday in sectors from energy to housing on a trip headed by Deputy Crown Prince Mohammed bin Salman aimed at bolstering relations with a top energy customer and trade partner.
The visit is part of a broad reform drive to cut the kingdom’s reliance on oil exports and showcase Saudi Arabia as a dynamic international nation with diverse promising opportunities for global investors.
Prince Mohammed met China’s Vice Premier Zhang Gaoli on Tuesday, state news agency SPA reported.
“During the meeting, the strategic relationships and future opportunities to enhance the existing partnership between the Kingdom of Saudi Arabia and China were reviewed,” SPA said.
Fifteen memorandums of understanding (MoU) were later signed between the two nations in different fields including oil storage, water resources, cooperation on science and technology, and cultural cooperation, SPA said.
In April, Prince Mohammed launched radical economic reforms designed to develop non-oil industries in Saudi Arabia and attract billions of dollars of foreign investment. Chinese and Japanese banks and companies are expected to play major roles.
Prince Mohammed arrived in China on Monday on the second leg of a three-day Asia tour that started in Islamabad, Pakistan. He will then visit Japan from Aug. 31 to Sept. 3, meeting Prime Minister Shinzo Abe.
From Japan, the prince will return to China to chair Saudi Arabia’s delegation to the Sept. 4-5 summit of leaders of the world’s 20 biggest economies in the eastern city of Hangzhou.
Prince Mohammed is expected to present to the G20 his economic reform plan, which envisages state spending of around 270 billion riyals ($72 billion) in the next five years on projects to diversify the economy.
Saudi officials will also discuss energy cooperation agreements with Japan, the Saudi cabinet said last week.
Under Prince Mohammed’s economic reforms, Riyadh plans to sell a stake of less than 5 percent in national oil giant Saudi Aramco that could be worth tens of billions of dollars, and Chinese and Japanese money could prove crucial in smoothing the sale.
(Additional input from agencies)
 
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Islamic, European officials plan support for Sudan

Updated 19 July 2019
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Islamic, European officials plan support for Sudan

JEDDAH: Support for Sudan in the wake of a new deal on civilian rule was among items discussed during a meeting between leading Islamic and European officials in Saudi Arabia.
The secretary-general of the Organization of Islamic Cooperation (OIC), Dr. Yousef Al-Othaimeen, received Finnish foreign minister, Pekka Haavisto, in Jeddah. Finland currently holds the rotational presidency of the Council of the EU.
Al-Othaimeen and Haavisto had a constructive exchange of views on common issues with particular focus on Sudan after civilian and military leaders signed an agreement aimed at installing a civilian administration.
The deal came after three months of deadlock since Omar Bashir was deposed as president, and the two officials discussed ways to back Khartoum in its transitional phase.
The secretary-general commended the role of Finland and the EU in promoting peace, security, stability and development in different parts of the world and expressed the OIC’s readiness to engage in issues of mutual interest.
Haavisto praised the role of the OIC in promoting the culture of peace, dialogue and understanding, noting the organization’s vast experience in leading peace building initiatives among its member states in collaboration with other partners.