JEDDAH, 6 June 2006 — The “Second China Products Fair and Investment Cooperation Conference” will be held in Jeddah from June 12-15 at the International Exhibition Center. It will provide an opportunity for Saudi and Chinese businessmen to meet, exchange information and make deals. The first China Products Fair was held in Riyadh in September 2003 and was a success. This second fair will be larger in size and in the number of products exhibited. There will be five major exhibition areas: electronic and information, industrial equipment, light industry and building material, investment and cooperation and the Shanghai Images area. Many exhibitors will also be showcasing carefully selected products that suit the Saudi market. Organized by the Ministry of Commerce of People’s Republic of China and the Shanghai Municipal Government, the second fair is unique in combining trade, investment and cooperation.
“Since the establishment of diplomatic relations between People’s Republic of China and the Kingdom of Saudi Arabia in 1990, the economic relations and commercial trade has seen great development due to the efforts of the two countries’ leaders and at all levels of society,” said the Consul General of China in Jeddah, Chang Yi, at a press conference yesterday at the Jeddah Chamber of Commerce and Industry to promote the fair.
Trade between the two countries reached $16.07 billion in 2005, an increase of 56 percent from 2004, according to the consul general. The Kingdom has become the ninth largest country for Chinese imports while China is the Kingdom’s fourth largest country for imports and the fifth for exports in 2004. The top Chinese exports to the Kingdom are electronics, clothes and textile, high technological products and shoes. Saudi Arabia exports to China crude oil, liquid gas and steel. Investments have also grown significantly with Chinese investments in the Kingdom reaching $70 million by the end of 2005 and Saudi investments in China reaching $74.19 million by mid 2005. These investments include glass and fiberglass, plastic products, textile and clothes. There are also Chinese investments in construction of different projects including petrochemical and cement. At the end of his opening remarks, Yi said that the future holds even greater opportunities for economic relations and development between the two countries.
Wang Qing Jiang from the Shanghai Trade Development Department said that there has to be more communication and understanding between the businessmen of the two countries to improve relations and create more investment opportunities which is why such fairs are important.
He said that one of the things that would facilitate communication and investment opportunities was having a direct flight route between Shanghai and Jeddah. Shanghai, like Jeddah in the Kingdom, is China’s economic, trade financial and shipping center.
