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China, Saudi Arabia to cooperate in new ways

Dec 26, 2020
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China, Saudi Arabia to cooperate in new ways



Chinese Foreign Minister Wang Yi paid an official visit to Saudi Arabia on Wednesday. The visit, which came against the background of the current coronavirus disease epidemic, saw the leaderships of the two countries have face-to-face exchanges, highlighting the importance China attaches to the development of its comprehensive strategic partnership with Saudi Arabia.
During the visit, Wang met with Crown Prince Mohammed bin Salman and Foreign Minister Prince Faisal bin Farhan. They exchanged views on China-Saudi relations, cooperation in various fields, and issues of common concern. During the visit, China and Saudi Arabia reached important consensus on the following issues.

First is the continuous deepening of strategic mutual trust between the two countries. Under the personal guidance of the two leaderships of state, China-Saudi relations have always maintained a momentum of robust development. The two countries share weal and woe and have cooperated in fighting the epidemic, setting a model for cooperation between nations. As China’s comprehensive strategic relationship partner, developing relations with Saudi Arabia is the priority direction of China’s Middle East policy. In the face of big changes unseen in a century and the new situation in the Middle East, the long-standing and increasingly strong China-Saudi Arabia relationship has become more strategic.

China supports Saudi Arabia in safeguarding its national sovereignty, security and stability, taking a development path that suits its own national conditions, and playing a greater role in international and regional affairs, while opposing interference in the Kingdom’s internal affairs under the pretext of so-called ideology and values.
The second is to work together to maintain security and stability in the Middle East. During the visit, Wang proposed a five-point initiative to achieve peace and stability in the Middle East, calling on countries in the region to respect each other, uphold equity and justice, achieve nuclear non-proliferation, jointly foster collective security, and accelerate development cooperation. China is willing to play its due role in promoting long-term peace and stability in the Middle East.

At the same time, Wang appreciated Saudi Arabia’s important role in regional peace and stability, and supported its initiative to resolve the Yemen issue. The security and stability of the Middle East has a far-reaching overall impact. China has no private interests in the region and is committed to developing relations with its countries. It is willing to work with all parties to play a greater role in maintaining regional security and stability and promoting regional development.

The third is to enhance practical cooperation in various fields while facing new and important opportunities. China has entered a new stage of development and has issued the “14th Five-Year Plan” and 2035 long-term goals. It is committed to achieving high-quality development in this new era. China is willing to strengthen the Belt and Road Initiative and Saudi Arabia’s Vision 2030, making good use of the high-level joint committee mechanism of the two countries and promoting traditional cooperation in trade, investment and major projects, as well as in emerging fields such as artificial intelligence and big data. China is willing to actively participate in the economic diversification of Saudi Arabia and jointly realize sustainable development.

The fourth is to jointly uphold a fair and just international order. Every country has the right to choose its own development path and should be committed to serving its people. The principle of noninterference in internal affairs is a clear principle in international law. The two countries will further strengthen unity and cooperation, maintain the international system with the UN as the core and the international order based on international law, and safeguard the common interests of developing countries.


The two countries’ long-standing and increasingly strong relationship has become more strategic.

Chen Weiqing


I also want to emphasize that this year marks the 40th anniversary of the founding of the Gulf Cooperation Council (GCC), meaning it is also 40 years of China and the GCC moving forward hand in hand. During this week’s visit, Wang also met with GCC Secretary-General Dr. Nayef Al-Hajraf. Standing at a new historical starting point, China is willing to discuss with the GCC member countries how to raise the level of China-GCC relations, firmly safeguard the sovereignty of each country, and deepen mutually beneficial cooperation in various fields. It is hoped that the two sides will complete negotiations on the China-GCC free trade agreement as soon as possible, jointly overcome the downward pressure on the global economy, and realize economic recovery. China is willing to continue to strengthen anti-epidemic cooperation to help build a healthy community.

 
Dec 26, 2020
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China has including free trade agreement in the talks between China and the GULF.

note the GULF has 7th largest economy and 7th richest country per capita despite being 65million still the richest large country with the highest per capita the remaining 6 countries that top the gulf are some of it's members and 2-3 other smaller countries with low population. making the gulf the largest richest country on earth per capita..


China eyes free trade agreement with the Gulf states


China wants to reach a free trade agreement with the GCC states, Chinese Foreign Minister Wang Yi told Al Arabiya on Wednesday. (SPA)


RIYADH: China wants to reach a free trade agreement with the GCC states, Chinese Foreign Minister Wang Yi told Al Arabiya on Wednesday, on the sidelines of his visit to Riyadh.

This agreement would allow Gulf countries to open-up to the economic communities in which China participates, providing them with preferential trade status agreements and negotiations, said Fawaz Al-Amali, an international trade expert.

A Chinese-Gulf Free Trade Agreement would represent a major boost for the region with the Gulf currently accounting for about two thirds of China’s trade with the Arab world, he said.


China already imports about 35 percent of its crude oil requirement from the Gulf which could rise to as much as 60 percent by the end of the decade.

The Gulf countries achieved a surplus in the trade balance with China during the past year, amounting to $19 billion, Al-Amali said.

Saudi Arabia posted a trade surplus with China, at a value of $11 billion, he added.

 

Titanium100

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The gcc is most beneficial looking at it financially and political influence in the region and this greatly benefit both economies.. They are without a doubt the richest people on god's earth.. 65m with highest per capita and 7th largest economy in the world.. When you see their capitals you would think this is another planet. Oil money and GCC speaks volumes.

But the most important is their political veto powers and lobbying powers..
 
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Dec 26, 2020
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Aramco aims to partner with China on blue hydrogen, CEO says


Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage


Saudi Aramco plans to “expand and intensify” cooperation with China on research in areas including hydrogen and ammonia production from natural gas, according to chief executive officer Amin Nasser.

Aramco is looking to work with China on blue hydrogen and ammonia, synthetic fuels and carbon capture utilization and storage, Nasser said at the China Development Forum in Beijing. “All of these are essential to achieving our long-term, low-carbon ambitions,” he said.


The oil major is also sizing up possible investments in Chinese projects despite spending constraints arising from a period of low oil prices as a result of the coronavirus pandemic.

“We see opportunities for further investments in integrated downstream projects to help meet China’s needs for heavy transport and chemicals, as well as lubricants and non-metallic materials,” Nasser said.

Oil companies globally reported losses or falling profit for 2020 as plunging demand due to the coronavirus pandemic led to lower prices and forced producers to shut in output. Aramco, the world’s biggest producer, was no different, reporting Sunday a 44 per cent drop in profit and further investment reductions. Still, some advanced or strategic projects are going ahead.

Domestically, the Jazan refinery is “on stream,” Nasser told reporters on a separate conference call to discuss earnings on Sunday. The planned 400,000 barrel-a-day crude-processing plant on Saudi Arabia’s southern Red Sea coast was set to start running at about half capacity after taking crude in the first quarter this year, Aramco said in August.

Nasser didn’t provide updates on the schedule or capacity for the plant that’s meant to bolster employment in the remote and less-wealthy regions along Saudi Arabia’s border with Yemen.
 
Dec 26, 2020
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Chinese FM lauds China-UAE cooperation, friendship in Abu Dhabi


Chinese State Councilor and Foreign Minister Wang Yi on Saturday lauded the ties between China and the United Arab Emirates (UAE) featuring mutual trust, pioneering cooperation and solid friendship.

He made the remarks at an interview in the UAE capital Abu Dhabi with the official news agency WAM during a visit to the Gulf country that highlighted the comprehensive strategic partnership between China and the UAE.

Wang said that the goal of his visit to the UAE is to implement the consensus reached by the leaders of the two countries.

He added that it is aimed at sending out the following messages to the UAE: China supports the UAE's independence in choosing its own development path and opposes foreign interference in the UAE's internal affairs, China will strengthen the synergy between its construction of a new development paradigm with the UAE 50-year national development strategy to elevate the mutually beneficial cooperation to a higher level, China will deepen mutual communication and coordination with the UAE on safeguarding Gulf peace and stability.

The two sides have demonstrated the true essence of the comprehensive strategic partnership featuring mutual firm support over core issues and at difficult times, Wang said.

The minister considers the China-UAE cooperation as "pioneering," which has been benefiting the two sides through innovation.

The two sides always seize the opportunity to explore cooperation in almost every area, such as fighting the COVID-19, vaccines, energy, trade, investment, infrastructure, and high technologies including 5G, big data, and artificial intelligence (AI), he said.



An aerial view of Dubai Marina at sunset in Dubai, United Arab Emirates /VCG


Wang expressed the hope that the China-UAE cooperation will be furthered through pushing forward the Belt and Road Initiative (BRI) with high-quality landmark projects such as the China-UAE Industrial Capacity Cooperation Demonstration Zone and the Hassyan clean coal power plant, consolidating cooperation in the fields of fossil fuel, new and renewable energies, and nuclear energy, exploring potentials of both markets, and optimizing the bilateral trade.

The two countries will also realize new growth areas through more cooperation in high tech areas including 5G, big data, AI, aerospace, and a higher level of financial cooperation such as local currency settlement and an international BRI bourse, he said.

"Frequent exchanges serve as an important bond to convey amity between China and the UAE," Wang stressed, adding all these are based on the solid friendship between the two peoples as the bilateral people-to-people exchanges are thriving in culture, education, and tourism.

The Chinese diplomat thanked the UAE and its people for their strong support offered to China when it was hit by the COVID-19 pandemic last year, saying the touching moves by the UAE have deeply impressed the Chinese people.

China and the UAE have launched comprehensive anti-pandemic cooperation including the procurement of supplies, experience exchanges, and joint research and development of vaccines, which have benefited the two peoples and contributed to the global fight against the COVID-19, Wang noted.

China is keen to, together with the UAE, accelerate the joint production of COVID-19 vaccines, explore cooperation with third parties, particularly in the Middle East and Africa, and establish a mechanism for health code sharing to facilitate visits between the countries, he said.

Referring to the Middle East situation, Wang blamed the current instability and conflicts in the region on the policies of "some big powers," which have also harmed global security.

"It's been 10 years since the so-called Arab Spring, the aftermath of which still lingers in this region and impacts its stability," he said, adding that he also sees hope as Middle East countries have been trying hard to explore independent paths of development and seek peace and stability in the region.

During a visit to Saudi Arabia days ago, Wang unveiled a five-point initiative for achieving security and stability in the Middle East that calls for advocating mutual respect, upholding equity and justice, achieving non-proliferation, jointly fostering collective security, and accelerating development cooperation.

This initiative reflects China's deep thought, sincerity and responsibility as a permanent member of the UN Security Council in helping realize security and stability in the Middle East, the Chinese diplomat noted.

As a power to preserve peace, promote cooperation, and advocate openness and tolerance, China is willing to increase communication and coordination with all parties including the UAE to play a constructive role in promoting peace and security in the region, Wang added.

(CGTN's Wang Zheng and Alec Fenn contributed to this report)

 
Dec 26, 2020
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Qatar Petroleum signs a 10-year agreement to supply LNG to China’s Sinopec


Through the long-term deal, the company will supply 2 million tons per annum of LNG to China


Qatar Petroleum today entered into a 10-year LNG Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 2 million tons per annum (MTPA) of LNG to the People's Republic of China.

The SPA was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Mr. Zhang Yuzhuo, the Chairman of Sinopec Group, during a virtual ceremony attended by senior officials from both sides.

Under the agreement, LNG deliveries will commence in January 2022, and will be delivered to Sinopec’s LNG terminals in China. This SPA further demonstrates the State of Qatar’s continued commitment to meeting the


growing energy demand of its customers globally in the form of reliable long term LNG supplies.


Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said, “In a step that will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar, we are delighted to enter into this historic long term LNG SPA. We are also proud of the fact that this agreement will be Sinopec’s first long term LNG SPA from Qatar, and we are hopeful that it will mark the start of a long and fruitful partnership with Sinopec. Our LNG relationship with China dates back to 2009, when we started supplying LNG through a host of LNG SPAs with a number of our valued Chinese partners. This SPA will further supplement Qatar’s contribution in meeting China's growing energy needs and we look forward to commencing deliveries under the agreement."



Qatar Petroleum today entered into a 10-year LNG Sale and Purchase Agreement (SPA) with China Petroleum & Chemical Corporation (Sinopec) for the supply of 2 million tons per annum (MTPA) of LNG to the People's Republic of China.

The SPA was signed by His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Mr. Zhang Yuzhuo, the Chairman of Sinopec Group, during a virtual ceremony attended by senior officials from both sides.

Under the agreement, LNG deliveries will commence in January 2022, and will be delivered to Sinopec’s LNG terminals in China. This SPA further demonstrates the State of Qatar’s continued commitment to meeting the growing energy demand of its customers globally in the form of reliable long term LNG supplies.


Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said, “In a step that will further solidify the excellent bilateral relations between the People’s Republic of China and the State of Qatar, we are delighted to enter into this historic long term LNG SPA. We are also proud of the fact that this agreement will be Sinopec’s first long term LNG SPA from Qatar, and we are hopeful that it will mark the start of a long and fruitful partnership with Sinopec. Our LNG relationship with China dates back to 2009, when we started supplying LNG through a host of LNG SPAs with a number of our valued Chinese partners. This SPA will further supplement Qatar’s contribution in meeting China's growing energy needs and we look forward to commencing deliveries under the agreement."



H.E. Minister Al-Kaabi concluded his remarks by saying, “This SPA also illustrates our position in the market as a reliable and trust-worthy LNG supplier, and we are grateful to all our customers around the world who select us as their LNG supplier of choice.”

Mr. Zhang Yuzhuo, Chairman of Sinopec Group, said, “Sinopec has been a strong advocate for cleaner and greener development. The signing of the long term LNG SPA with Qatar Petroleum is a further step by Sinopec to deliver its commitment to sustainability while meeting the growing needs of the Chinese market. We believe achieving carbon emission peak and carbon neutrality are responsibilities of the energy industry and call for transformation. We are proud to team up with Qatar Petroleum, one of the premier suppliers in the industry, to supply cleaner energy to China. We are also excited to begin a new journey of more comprehensive cooperation with Qatar Petroleum in the years to come.”

Khalid bin Khalifa Al Thani, CEO of Qatargas, commented on the new SPA: “This landmark agreement comes as a boost to the existing relationship with our Chinese customers. As the World’s Premier LNG Company, Qatargas is committed to meeting the clean energy needs of customers around the globe who depend on reliable LNG deliveries.”


Since the first LNG delivery in September 2009 to date, Qatar has supplied China with more than 62 million tons of LNG. China is a key and strategic energy partner for the State of Qatar throughout the entire energy value chain. It is also a main driver of the growth in the global LNG market as the government adopts increasingly progressive environmental policies.

 

Dark1

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Chinese feeling the stress. Looking for alliances to counter the quad and other anti China groups.
Since China is not a big believer in international treaties, if tomorrow the arabs decide to break the treaties, under American pressure, nothing the Chinese can do.
 
Dec 26, 2020
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Chinese feeling the stress. Looking for alliances to counter the quad and other anti China groups.
Since China is not a big believer in international treaties, if tomorrow the arabs decide to break the treaties, under American pressure, nothing the Chinese can do.
I don't think that is the case. They don't want to imbalance the ties in the region by alienating one party in the region instead they want neutral good ties with everyone in the region sort of to avoid being in one exlusive camp. China is not threatened by India or Japan they are to irrelevant to be a chellenge
 

TNT

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Chinese feeling the stress. Looking for alliances to counter the quad and other anti China groups.
Since China is not a big believer in international treaties, if tomorrow the arabs decide to break the treaties, under American pressure, nothing the Chinese can do.
Oh and since bhangi india is in quad it becomes even more dangerous and worrying for china?? Dont think too much of ur ugly existence, u cant scare Pakistan, let alone china.
 

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