Saudi Arabia, China discuss setting up regional hub for Chinese manufacturers in Kingdom

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman and China’s National Energy Administrator Zhang Jianhua agreed to boost cooperation in the different energy fields, Saudi Press Agency reported.

They agreed to maintain global market stability, as well as close communication and cooperation to address emerging risks and challenges.

The two sides also highlighted the importance of “long-term and reliable” oil supply to stabilize a dynamic global market that is currently facing “complex and changeable international situations”.

They reportedly discussed cooperation and joint investments, along the Belt and Road countries, as well as investments in integrated refining and petrochemical complexes in both countries.

Further, the two parties agreed to establish a regional hub for Chinese manufacturers to utilize Saudi Arabia’s ideal geographical location.