Wednesday, March 15, 2017

Belt and Road Initiative helps Saudi Arabia realize "Saudi Vision 2030" -- ambassador

Xinhua| 2017-03-14

BEIJING, March 14 (Xinhua) -- The China-proposed Belt and Road Initiative is expected to make "creative" contributions to helping Saudi Arabia realize its "Saudi Vision 2030" plan, Saudi Ambassador to China Turki Bin Mohamed Al-Mady has said.  "Saudi Arabia attaches great importance to China's Belt and Road Initiative," Al-Mady told Xinhua in a recent interview, referring to the initiative proposed by Chinese President Xi Jinping in 2013 aimed at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient Silk Road trade routes.  "Both countries have great potential, whether in infrastructure construction or in financial innovation," he added.  In a bid to diversify its heavily oil-dependent economy, Saudi Arabia announced a "Saudi Vision 2030" growth strategy last year, which includes privatizing some state-owned companies.  Saudi King Salman bin Abdulaziz Al Saud will pay a state visit to China from Wednesday to Saturday after Xi paid a state visit to Saudi Arabia in January 2016, during which both nations agreed to lift their relations to a comprehensive strategic partnership.  During the king's visit, the two sides will discuss enhancing cooperation in areas such as culture, economy, trade, technology, security and defense. They are expected to sign several agreements and memoranda on education, investment, transfer of technology, industry and trade.