|
|
April 28, 2006 |
|
||
|
|
|
|
||
|
|||||
THE CUSTODIAN OF THE TWO HOLY MOSQUES DISCUSSES BILATERAL, REGIONAL AND INTERNATIONAL ISSUES WITH THE CHINESE PRESIDENT. KING ABDULLAH AND THE CHINESE PRESIDENT PATRONIZE THE SIGNING OF A NUMBER OF COOPERATION AGREEMENTS BETWEEN THE TWO COUNTRIES. CROWN PRINCE SULTAN IBN ABDUL AZIZ REVIEWS BILATERAL RELATIONS, REGIONAL AND INTERNATIONAL DEVELOPMENTS WITH THE CHINESE PRESIDENT. The Custodian of the Two Holy Mosques King Abdullah Ibn Abdul Aziz Al Saud received the Chinese President Hu Jintao who came on a three-day official visit to the kingdom. Then, the Custodian of the Two Holy Mosques and the president co-chaired the Saudi-Chinese official talks. At the outset of the session, King Abdullah Ibn Abdul Aziz Al Saud welcomed the President and the accompanying delegation. In turn, the President expressed his happiness for the visit and said the talks being held between the two sides during this visit are the second during three months at the summit level which is a rare occurrence at the level of international relations. Regional and international issues, topped by the Palestinian cause and the situation in Iraq, were discussed. Ways of boosting Saudi Chinese bilateral relations were also discussed. The talks were attended by Crown Prince Sultan Ibn Abdul Aziz, Deputy Prime Minister, Minister of Defense and Aviation and Inspector General, other princes, ministers and senior officials as well as the president's accompanying delegation. Chinese President Hu Jintao arrived in Riyadh from Washington, on a state visit to the Kingdom at the invitation of Custodian of the Two Holy Mosques King Abdullah Ibn Abdul Aziz. In addition to high-level talks, a series of general and trade agreements were signed during the two-day tour. King Abdullah hosted a dinner banquet in honour of the visiting president at his palace. "This will be President Hu's first visit to the Kingdom as president and he is scheduled to hold talks with King Abdullah for one hour following the welcome ceremony hosted by the Saudi king in his palace tomorrow," a spokesman from the embassy had said. Hu's visit to Saudi Arabia comes only three months after King Abdullah made a trip to Beijing in January, the first by a Saudi king since diplomatic relations were established in 1990. During his visit, King Abdullah oversaw the signing of five economic deals, including an energy framework agreement that the two sides will flesh out in Riyadh. "This will be the second meeting of the top leaders of the two countries this year," the Chinese embassy spokesman said, recalling King Abdullah's to China visit, his first overseas trip since his ascension to the Saudi throne in August last year. He added that King Abdullah extended an invitation to President Hu to visit his country and it was readily accepted by the Chinese president. The last Chinese presidential visit to the Kingdom was in 1999 by Jiang Zemin. "The Kingdom remains China's largest oil supplier and the biggest trade partner in the Middle East with bilateral trade reaching $16 billion in 2005, up 56 percent over the previous year," the official said. Last year, China imported 22.18 million tons of crude oil from the Kingdom. Saudi exports to China in 2005 were valued at $9.3 billion, an increase from $6 billion in the previous year. Its imports have also increased from $3 billion in 2004 to $4 billion this year. The Saudi Arabian General Investment Authority has issued licenses to 36 Chinese joint ventures worth $480 million, 73 percent of which is funded by Chinese businessmen. Before the President's arrival and according to Abdul Rahman Al-Rashed, chairman of the Saudi Council of Chambers of Commerce and Industry, Saudi businessmen will hold talks with their Chinese counterparts to identify new areas of cooperation in trade. The topics that will be taken up for discussions include setting up of a Saudi-Chinese Bank, holding of trade exhibitions in the two countries to promote each other's products and services, setting up of Saudi and Chinese trade offices in the host countries and establishing free trade between the two countries. "This will be a good opportunity for the two countries to strengthen bilateral trade to cater to the growing demand for Chinese and Saudi products and services," Al-Rashed said. President Hu held talks with Crown Prince Sultan, who hosted him at a luncheon. He discussed regional matters with GCC Secretary-General Abdul Rahman Al-Attiya and paid a visit to the SABIC headquarters in Riyadh. He visited the Shoura Council, where he delivered a speech on bilateral relations. In the presence of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and Chinese President Hu Jintao, a security cooperation agreement was signed at the Royal Court at Al-Yamamah Palace between the governments of the two countries. The agreement was signed by Prince Naif bin Abdulaziz, the Minister of Interior and Chinese Foreign Minister Li Zhaoxing. A contract of defense systems was also signed between the two sides. On the Saudi side, it was signed by Prince Khalid Ibn Sultan bin Abdulaziz, Assistant Minister of Defense and Aviation and Inspector General for Military Affairs and on the Chinese side by Chairman of Board of Directors of North China Company for Military Industries Matchi Qina. A memorandum of cooperation on health affairs between the health ministries of the two countries was signed by Dr. Hamad Ibn Abdullah Al-Manea, the Minister of Health and Chinese Foreign Minister Li Zhaoxing. Also, a memorandum of understanding on comprehensive trade cooperation between China Petro Chemica Corporation /Sinobec/ and Saudi Arabian Oil Company /Saudi Aramco/ was signed by Abdullah bin Saleh Jumaa, Saudi Aramco's President and Chief Executive Officer and Sinobec President Chin Tonghai. Following the signing ceremony, they exchanged the signed copies and greeted the Monarch and the Chinese President. The ceremony was attended by the official delegations of the two countries. The Custodian of the Two Holy Mosques offered the King Abdul Aziz decoration to the Chinese President , who expressed his thanks to the Custodian of the Two Holy Mosques King Abdullah Ibn Abdul Aziz. On the other hand Crown Prince Sultan Ibn Abdul Aziz, Deputy Prime Minister, Minister of Defense and Aviation and Inspector General, received the Chinese President Hu Jintao and the accompanying delegation. They reviewed the bilateral relations between the Kingdom of Saudi Arabia and China as well as a number of regional and international issues of common concern. The meeting was attended by a number of princes and senior officials Meanwhile, Crown Prince Sultan hosted a luncheon in honor of the Chinese President and the accompanying delegation. The luncheon was attended by a number of princes and senior officials. As part of his official visit to the Kingdom of Saudi Arabia, the President of the People's Republic of China, Hu Jintao, paid a visit to SABIC Headquarters in Riyadh where he was received by Prince Saud bin Thunayan Al-Saud, Chairman, Royal Commission for Jubail and Yanbu and Chairman, Saudi Basic Industries Corporation (SABIC), Mr. Mohamed Al-Mady, SABIC's Vice Chairman and CEO and other executive management. President Hu was briefed on the industrial progress achieved by the Kingdom. He viewed a film on SABIC's achievements, strategic plans and foreign investment trends, especially in China. The President visited SABIC's permanent exhibition which showcases the company's historical progress, its product range, manufacturing complexes and highlights its contribution to the industrial, agricultural and construction sectors. In his welcoming speech, Prince Saud bin Thunayan Al-Saud praised the strong and ever growing political, economic and technological relations between the two countries. He praised President Hu's astute leadership and the robust economic growth in China. Mr. Al-Mady highlighted SABIC's growth and explained how the company has become one of the world's top ten petrochemical companies and number one in terms of profits and sales growth. SABIC aspires to become one of the world's leading petrochemical companies. Al-Mady said "SABIC praises the economic development in China. SABIC is proud to have entered the Chinese marketplace at an early stage. Since the 1980s, SABIC has been supplying fertilizers, synthetic fibers, iron, steel and plastic products to Chinese customers. We will reinforce our presence in China by establishing mega industrial projects. The Chinese market is a key strategic global petrochemical market from SABIC's point of view. As the Kingdom's leading company, we would continue to foster close commercial relations with China". During Hu's visit to SABIC headquarters in Riyadh, Muhammed Al-Mady, SABIC president and CEO, highlighted the economic development in China. "SABIC is proud to have entered the Chinese market at an early stage. Since the 1980s, SABIC has been supplying fertilizers, synthetic fibers, iron, steel and plastic products to Chinese customers. We will reinforce our presence in China by establishing mega industrial projects. The Chinese market is a key strategic global petrochemical market from SABIC's point of view. As the Kingdom's leading company, we would continue to foster close commercial relations with China," he added. The Chinese leader discussed with SABIC officials a $5.2 billion joint venture, a refinery cum petrochemical complex, in China. Chinese President Hu Jintao and his accompanying delegation arrived in the Eastern region within the framework of their current visit to the Kingdom. At King Abdul Aziz Airbase, they were received by Prince Mohammed Ibn Fahd Ibn Abdul Aziz, the Governor of the Eastern Region, Prince Jelawi Ibn Abdul Aziz Ibn Musaed, Vice Governor of the Eastern Region and a number of officials. The Chinese President was accompanied by Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi, Saudi Ambassador to China Salih Al-Hujeilan and Chinese Ambassador to the Kingdom Wu Sihe. The Chinese President and the accompanying delegation were received by Saudi Aramco's President and Chief Executive Officer Abdullah Jumaa and vice presidents. In a welcoming speech, Jumaa commended deep, important, constructive and fruitful relations binding Saudi Aramco and China, which are considered the most important relations in the field of energy in the world. He noted that the company has adopted an effective and pioneering role in providing oil supplies needed by china to continue its process of prosperity and economic growth. The Chinese President toured an oil exhibition and expressed his admiration of the development of oil industry in the kingdom. The Chinese President was accompanied by Minister of Petroleum and Mineral Resources Eng. Ali Al-Naimi and Saudi Ambassador To China Salih Al-Hujeilan as well as Chinese Ambassador to Saudi Arabia Wu Sihe. Earlier, the Chinese President and the delegation visited King Fahd causeway to watch the landmarks of the eastern region. In Dhahran Prince Mohammed Ibn Fahd Ibn Abdul Aziz, the governor of the Eastern Region, held a dinner party in honour of Chinese President Hu Jintao and his accompanying delegation. The party was attended by a number of princes, ministers and senior officials. The Chinese President Hu Jintao discussed with Saudi leaders during his visit a proposal to set up a strategic oil reserve in China fed by Saudi supplies, a Chinese official told AFP. The plan was raised during Hu's talks with King Abdullah and both sides want to see it through, the official said, requesting anonymity. The reserve would be on top of the oil supplies Saudi Arabia exports to China for its daily needs, and which reached some 22.18 million tons last year, he said. The reserve would be set up in a coastal city in southeast China, to be used by Beijing in case of emergency. The official did not say how much oil would eventually be stored in the reserve. But he said Riyadh and Beijing were discussing the feasibility of the plan and ways of cooperating to carry it out. China's Sinopec is building a refinery with Aramco in the Chinese province of Fujian. Another joint refinery venture is planned in Qingdao city. Saudi Oil Minister Ali Al-Nuaimi has been accompanying Hu during his meetings. President Hu and King Abdullah presided over the signing of a series of agreements, including a framework cooperation agreement in the energy field between Sinopec and Aramco. The agreement provides for strengthened cooperation in gas exploration and possible cooperation in oil exploration, a Chinese official said. Sinopec is already drilling for gas in the Saudi desert. The Chinese leader also discussed a proposed 5.2-billion-dollar energy venture in China with officials of Saudi petrochemical giant SABIC. Hu also held meetings with Saudi businessmen, including Prince Alwaleed Bin Talal, who said afterwards he had been urged to increase his investments in China, where he is involved in the hotel and banking sectors. Saudi Aramco president and CEO Abdullah S. Jum'ah and Sinopec Group President Chen Tong Hai signed a Memorandum of Understanding (MOU) to enhance the strategic commercial partnership between the two companies. In the MOU, Sinopec and Saudi Aramco re-emphasized their mutual interest in continuing to explore opportunities to expand their long-term business relationship, and to move forward with their joint efforts on a commercial basis. The MOU focuses on commercial and technical aspects of the companies' collaboration in the areas of crude oil treating and commercial storage, natural gas exploration and production, petroleum products and petrochemicals derivatives. The MOU also covers the two ongoing joint developments in China, the Fujian Refining and Ethylene Project (in which affiliates of Saudi Aramco, Sinopec and ExxonMobil are potential equity partners) and the Qingdao Refinery Project (in which affiliates of Saudi Aramco and Sinopec, along with the local provincial and municipal governments, are potential equity partners). Saudi Aramco and Sinopec agreed to establish the Fujian Ethylene Joint Venture and the Fujian Marketing Joint Venture during 2006 and agreed that the Refining and Ethylene Integrated Project will begin production by early 2009. Regarding the Qingdao Refinery Project, the parties agreed to further their joint efforts to reach agreement on terms for Saudi Aramco's participation in the Project and to meet the plant's on-stream date of 2008. The MOU stipulates that Saudi Aramco is committed to supplying Sinopec and its affiliates 1 million barrels per day of Arabian crude oil by 2010. Deputy Governor of Investment General Authority for Investment Affairs Dr. Al-Awwad held a meeting with Chairman of Chinese Investment Commission on the fringes of the current visit of the Chinese President Hu Jintao to the Kingdom. During the meeting, they discussed aspects of cooperation in the next stage and in investment fields. Dr. Al-Awwad said that the authority in cooperation with the Foreign Ministry has prepared an office affiliated with the authority in Hong Kong to attract Chinese investment to the Kingdom and to provide data to Chinese companies for investment in the Kingdom. The Chinese President Hu Jintao, visited King Abdul Aziz Historical Center. The Chinese President and the accompanying delegation were briefed on the activities of the center. The Chinese President was accompanied by Minister of Petroleum And Mineral Resources Eng Ali Al-Naimi and Saudi ambassador to China Salih Al-Hujeilan as well as Chinese ambassador to Saudi Arabia Wu Sihe. Chinese Minister of Foreign Affairs Li Zhaoxing has said the visit of Chinese President Hu Jintao to Saudi Arabia will positively contribute to further cementing Saudi-Chinese relations. In a statement to Jeddah-based Arabic newspaper "Okaz," published today Li Zhaoxing said the Saudi and Chinese views are identical towards several regional and international issues. The Chinese minister highlighted the potentialities owned by Saudi Arabia in the energy resources, capital and consuming capabilities. He pointed out that close cooperation is exiting between the two countries in the spheres of energy, economy and trade, adding that Saudi Arabia has become the biggest oil source for China in the world and its biggest commercial partner in West Asia and North Africa. Chinese President Hu Jintao left the Kingdom after a two-day visit to Saudi Arabia. He was seen off at King Abdul Aziz Airbase airport by Prince Jalawi Ibn Abdul Aziz Ibn Musaed, the Vice-Governor of the Eastern region, and a number of senior officials. |
|||||
