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Saudi Arabia, China eye regional ctr to boost energy supply chains

RIYADH, Dec 7 (KUNA) -- Saudi Arabia and China endeavor to boost cooperation in energy supply chains via establishing a regional center in the Kingdom for Chinese factories, said Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy on Wednesday.
According to the Saudi Press Agency (SPA), the minister said in a statement that relations between Saudi Arabia and China were witnessing a qualitative leap, reflecting the interests both countries to develop ties on all possible levels.
In remarks on the Saudi-Chinese Summit in Riyadh, Prince Abdulaziz noted that the Kingdom has strong and close strategic relations with China in many fields, the most important of which was in energy.
He indicated that China has become the top destination for Saudi Arabia's oil exports as part of the high volume of trade exchange between the two countries, which continued annual growth over the past five years, noting that Saudi-Chinese energy relations include multiple joint investments.
Prince Abdulaziz bin Salman stated that the two sides were keen to promote cooperation in energy fields, stressing the importance of continuously exchanging views between the two countries.
He also went over the impact of cooperation in maintaining the stability of the global oil market and their continuous endeavors to maintain effective communication and enhance collaboration to face future challenges.
The minister also reviewed areas of cooperation, mainly through projects to convert crude oil into petrochemicals, renewable energy, clean hydrogen, electricity projects and peaceful uses of nuclear energy.
He cited collaboration and joint investments in countries included by China's Belt and Road Initiative, as well as investment in integrated refining and petrochemical complexes in both countries. (end) mdm.gta