Focus on energy, tech

Saudi  Crown Prince Mohammed bin Salman arrived in Beijing yesterday as the kingdom aims to seal partnerships on a high-profile Asia tour. The Crown Prince is expected to meet Chinese President Xi Jinping on his two-day trip to the Chinese capital following visits to Pakistan and India. The Chinese foreign ministry said Beijing’s ambitious Belt and Road global trade infrastructure initiative will be on the agenda, as the two countries look to improve their economic ties.

“Saudi Arabia has a lot of capital that needs to find profitable places to be deployed,” Saudi energy and industry minister Khalid bin Abdulaziz Al-Falih told China’s official Xinhua news agency. “China is a great place to invest with a huge market and an improving environment,” he said.

The two countries will sign agreements and memorandums of understanding in the energy, investment, transport and technology fields, said the Saudi ambassador to China Turki bin Mohammed Al-Madi, according to the official Saudi Press Agency. In Pakistan, the Crown Prince signed a raft of investment deals worth up to $20 billion. On Wednesday, he met Indian Prime Minister Narendra Modi, whose country counts  Saudi Arabia as one of its key crude suppliers.

Crack down on terrorism

After his meeting with Modi, Prince Mohammed said the kingdom saw investment opportunities in “various fields to exceed $100 billion”. The Crown Prince also vowed to crack down on terrorism with Modi. Earlier yesterday, Chinese State Councillor and Foreign Minister Wang Yi met with Saudi Minister of State for Foreign Affairs Adel al-Jubeir in Beijing. Hailing the rapid development of cooperation in various fields, Wang said that the ties between China and Saudi Arabia feature mutual respect, mutual understanding and mutual support.

Wang also said that both China and Saudi Arabia face the threats of terrorism and extremism, and the two sides should strengthen cooperation to jointly safeguard the security and stability of the two countries and the region. Describing bilateral ties as “very stable and solid” with rapid development in recent years, Adel al-Jubeir said the Saudi side regards China as a long-term strategic partner and looks forward to closer ties in politics, economy, security and other areas.