Strengthening strategic cooperation between Riyadh and Beijing
In a further step underscoring the deepening strategic relationship between the Kingdom of Saudi Arabia and the People’s Republic of China, the fifth meeting of the Sub-Committee on the Belt and Road Initiative, Major Projects, and Energy was held. The meeting, conducted virtually, was co-chaired by His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Saudi Minister of Energy, and His Excellency Mr. Zheng Changjie, Chairman of the National Development and Reform Commission of China. Both sides affirmed their commitment to continued close coordination to enhance alignment between their ambitious development strategies.
Historical context of a growing partnership
This meeting did not come out of nowhere; rather, it is a link in a long chain of cooperation that has witnessed remarkable development over the past decade. Saudi-Chinese relations have moved from being primarily energy-based trade relations to a comprehensive strategic partnership that was officially announced in 2016. This partnership deepened significantly with the historic visit of Chinese President Xi Jinping to Riyadh in December 2022, which witnessed the convening of three summits (Saudi-Chinese, Gulf-Chinese, and Arab-Chinese), laying a solid foundation for multifaceted cooperation that extends from the economy and technology to culture and security.
The importance of aligning Vision 2030 with the Belt and Road Initiative
The essence of this cooperation lies in the unique synergy between Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative. While Vision 2030 seeks to diversify the Saudi economy away from oil and transform the Kingdom into a global logistics and industrial hub, the Belt and Road Initiative offers a world-class investment and infrastructure framework that can accelerate the achievement of these goals. The meeting discussed the opportunities available within this framework, focusing on vital sectors including conventional and renewable energy, investment, industry, mining, space, water, transportation, and major projects that serve mutual interests and open broader horizons for sustainable growth.
Expected impacts at the local, regional, and international levels
Strengthening this partnership has far-reaching implications. Domestically, cooperation with China contributes to attracting investment and transferring advanced technology, supporting the Kingdom's efforts to localize industries and create new jobs. Regionally, this alliance solidifies the Kingdom's position as a pivotal player in regional stability and as a bridge connecting Asia, Africa, and Europe. Internationally, the rapprochement between the world's largest oil exporter and its largest importer is reshaping the global energy landscape and influencing economic and geopolitical dynamics, reinforcing multipolarity and supporting the development of a more balanced global economic order.
The meeting concluded with an agreement to continue coordinating efforts on issues of common interest, and to set work priorities for the next phase, in order to ensure that the strategic consensus is translated into practical and tangible projects that benefit the people of the two friendly countries.
