Saudi Arabia signed 15 preliminary agreements with China, late August, upon Deputy Crown Prince, Mohammed bin Salman’s visit and meeting with China’s Vice Premier, Zhang Gaoli. The agreements included deals in the energy and housing sectors, covering bilateral collaboration on oil storage, water resources, cooperation on science and technology, and cultural cooperation. The agreements are part of the kingdom’s efforts to strengthen relations with China, reported Reuters.
The prince’s visit aims to challenge the image of Saudi Arabia depending only on oil exports and to promote investments in the country.
Egypt Oil and Gas reported earlier that Saudi Arabia’s cabinet approved to delegate a number of ministers to conduct discussions with China in regards to a memorandum of understanding (MoU) to cooperate in the energy sector, in addition to an initial cooperation memorandum in the field of crude storage.