Monday, September 5, 2016

Tapping the potential of Gulf-China partnership

By Ehtesham Shahid

Al-Arabiya - Sunday, 4 September 2016

It is difficult to believe that the diplomatic relations between China and Saudi Arabia were only established in the year 1990. Since then though, the growth in economic ties has been rapid and, in some ways, have become symptomatic of the Gulf-China trade relations.
It is only pertinent that China, the world’s second largest economy and the G20 summit host this year, and Saudi Arabia, the only Arab country in this elite league, are both trying to take this partnership to the next level.
As Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman represents the country at the G20, being held in the Chinese city of Hangzhou, this is an opportunity for him to showcase Saudi Vision 2030. Yet, this also shines a spotlight on the Gulf region, which realizes the need to enhance its partnership with China.
In China, Gulf countries have had a reliable trade partner for several years now and the results have been showing. According to one estimate, China has been the single largest foreign business stakeholder in the GCC since 2014.