Chinese President – Xi Jinping is Set to Visit Saudi Arabia: Here’s What to Expect
Chinese President – Xi Jinping is Set to Visit Saudi Arabia: Here’s What to Expect :
Chinese President – Xi Jinping is Set to Visit Saudi Arabia: Here’s What to Expect
The President of China, Xi Jinping, is expected to visit Saudi Arabia in the coming weeks. This visit comes after Biden’s controversial visit to the Saudi Arabian kingdom last month. While many quarters have dubbed Xi Jinping’s visit highly strategic, there are some things to expect from the visit.
The trade relations between Beijing and Riyadh have waxed strong in recent years. Xi Jinping visited Saudi Arabia in 2016 to strengthen the ties between both territories. The current visit is expected to emphasize China’s position as a strong ally of Saudi Arabia. However, energy discussions are the most expected with this visit.
China is currently Saudi Arabia’s biggest oil importer. China is critical to international trade because the Saudi Arabian kingdom is primarily an oil-producing economy. According to reports, both leaders have been negotiating the possibility of conducting China-Saudi Arabia oil sales in the Chinese Yuan. These negotiations are expected to continue during the visit. This agreement will give the Chinese Yuan a much-needed boost.
According to reports, during his last visit, Biden was unsuccessful in striking an oil deal with the Saudi Arabian kingdom. President Biden sought to purchase oil cheaper to reduce the soaring gas prices and inflation in the US.
While the relations between Beijing and Riyadh are hinged on oil sales, there are possibilities of strengthening trade and industrial relations. Jinping’s visit is expected to spur discussions on how China can expand trade relations with its strategic partner, Saudi Arabia. China exported goods worth over $31 billion to Saudi Arabia in 2020. In the same year, Saudi Arabia became China’s largest oil supplier. Thus, there is already a strong foundation for more trade discussions between both territories.
Lastly, the leaders of China and Saudi Arabia are expected to deliberate on crucial issues like renewable energy and infrastructural investment. There seems to be a positive interest in strengthening cooperation across mutual fields and interests. For example, the Saudi Arabian kingdom was the largest recipient of China’s BRI initiative. The Belt and Road Initiative (BRI) is an investment scheme that allows China to invest in over 150 countries to strengthen trade relations.
Ultimately, Jinping’s visit will reinforce China as a strong ally of Saudi Arabia. It will also emphasize China as vital in the Middle Eastern political landscape.
Conclusion
In this era of geopolitical tensions like the Russia-Ukraine war, many countries scramble to establish global ties and build their ally network. Jinping’s Saudi Arabia visit will help reinforce the existing and future ties between Beijing and Riyadh. But, most importantly, it will provide an avenue for further discussions on the economic growth of both countries.
Last Updated on 9 months by News Editor
