Sultan Alsadoon of the Saudi-Chinese Business Council praised the thriving ties between China and Saudi Arabia, emphasizing economic resilience and collaborative growth under Saudi Arabia's Vision 2030 initiative, at the just-concluded sixth Qingdao Multinationals Summit.
China has been Saudi Arabia's largest trading partner since 2013, and Saudi Arabia is China's largest trading partner in the Middle East.
Speaking at the summit in east China's Shandong Province, Alsadoon highlighted the deepening relations between China and Saudi Arabia, describing their partnership as pivotal to economic growth and diversification.
"You see Saudi Arabia represents 60 percent of the Middle East economy, and China now is the second largest GDP in the world. What's happening between their relationship, Saudi Arabia and China, is the right thing. Actually, Saudi started the Vision 2030, and the the Vision 2030 is diversifying the economy of Saudi Arabia. And the best partner we have found is China," he said.
Alsadoon also pointed to the growing trade partnership between the two countries, emphasizing crude oil exports as pivotal to Saudi Arabia's economic ties with China.
"Now, Saudi Arabia represents almost 38 percent from the crude oil that is send to China. We signed last year, exchange between RMB and Saudi Arabia direct, going through the SWIFT. So, it's going through the system, direct payment. So, that helps a lot of more export between Saudi Arabia and China," he said.
He highlighted the resilience of China's economy, praising its commitment to development and strengthening global partnerships despite challenging economic conditions.
"China, they don't look at the politics side. China, they look at development, about good relations, about economy. They are focusing on economy. So, based on that, they are diversifying. China is not keeping its technology only for Chinese, and closing the border. No. China is investing everywhere. So, Chinese products, when it is made in Saudi Arabia or made anywhere in the world, and exported to somewhere else, it doesn't go with a tariff," Alsadoon said.
Saudi executive lauds thriving ties with-China at Qingdao Summit
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
