JEDDAH, 26 February — A 23-member Chinese trade delegation, which had a meeting at the Jeddah Chamber of Commerce & Industry yesterday, is exploring joint venture prospects in the manufacturing sector.
"We're looking forward to discussions with the local business community in the next three days and will study their interest in setting up joint venture production units," Gao Wen Zhi, deputy director and deputy chairman of the foreign trade and economic cooperation department of China's Hebei province, said after the meeting.
"We look for joint venture production units in areas like construction, light industry, pure water, leather bags, agricultural machinery, auto accessories, and medical and chemical products. We're able to offer the necessary labor, expertise and training, which can go a long way in the ongoing Saudization plan."
The delegation, which was accompanied by Consul General Saeed Du Hong-Bin, is the first ever to visit from the Hebei province. It was received by Ahmad Bahjat Hijazi, director of foreign affairs department of the chamber. The team, which was briefed on the Kingdom's emerging investment and tourist environment, later held group meetings with local businessmen.
Guo Shichang, head of the delegation and vice governor of the Hebei province, said the main purpose of the delegation, was to explore prospects of trade and cooperation, and attract investors.
The province, which surrounds the capital Beijing, with a population of 66 million, is rich in natural resources, especially minerals. Agriculture and tourism are also among its strong points.
The province, one of the 32 in China, accounts for annual exports of $3.2 billion out of the country's annual exports of over $200 billion. China's trade volume exceeds $400 billion.
The province's GDP and population were sixth in the country in 2000; in terms of trade it ranked 10th. The province, which is No. 2 in tourism in the country also accounts for an annual economic growth of nine to 10 percent. It has absorbed more than $12 billion of foreign investment, Zhi said and invited Saudi investors to take advantage of the province's vast investment potential.
Zhi added that the province had established business relations with 174 countries and regions.
The delegation, which includes Wang Geng, vice division director, Hebei economy & trade commission, also has top executives from automobile, construction engineering, bridge construction, cement, conservancy engineering companies, as well as from Kailuan group, one of the biggest limited liability corporations.
The visitors will leave for Pakistan on Wednesday en route to Beijing.
