Abdullah Al-Swaha, the Kingdom's minister of communications and information technology, started an official tour to China to meet with leaders and government officials in an effort to improve relations between the two countries, according to sources. To strengthen relationships and entice additional technical investments into the Kingdom, the minister met with his Chinese counterpart and a number of other authorities.
The trip is being made in light of improved ties between Saudi Arabia and China, which will aid in the development of the Kingdom's digital economy and bring about prosperity in the sectors of innovation and space exploration in line with Vision 2030.
A senior delegation from organizations connected to the Kingdom's space, digital economy, and innovation systems is travelling with the minister. During the Arab-China Business Conference last month, top officials from Saudi Arabia and China discussed how to strengthen their economic ties by rebuilding the Silk Road.
As China, the second-largest economy in the world, aspires to strengthen economic connections with the area, Saudi Arabia's investment minister, Khalid Al-Falih, stated during the event that the Kingdom may act as China's gateway to the Arab world. The minister added in a statement that the initiative to revive the Silk Route is consistent with Saudi Arabia's future strategy, which aims to diversify its economy and employ contemporary technologies to improve the abilities of its youth.
“China plays a leadership role in advanced technology and innovation. We, in the Arab world, have the determination, human and monetary capital to support this field,” Al-Falih said at the conference.
Additionally, commerce between Saudi Arabia and China reached $106 billion in 2022, an increase of 30% from 2021.
In 2022, the Kingdom will account for 25% of the $432 billion in commerce between China and Arab nations.