Circular Carbon Economy a Tool to Achieve Climate Targets
At the Invitation of His Royal Highness Salman bin Abdulaziz Al Saud, King of Saudi Arabia, President of China His Excellency Xi Jinping paid an official State visit to the Kingdom during December 7 to 9.
HRH King Salman bin Abdulaziz Al Saud and HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received H.E. Chinese President Xi Jinping.
The two sides held an official session of talks and exchanged views regarding ways to reinforce and develop comprehensive strategic partnership relations between the Kingdom and China ,and all international and regional issues of common interest.
On climate change, the Chinese side welcomed the Kingdom’s launching of “Saudi Green” and “Middle East Green” initiatives, and expressed its support for all the efforts exerted by the Kingdom in the field of climate change through the application of circular carbon economy.
SABB Participates in Saudi Green Initiative Forum in Sharm El Sheikh
Both sides emphasized the importance of the principles of the Framework Convention on Climate Change and Paris Agreement, as well as the importance of implementing climate conventions through focusing on emissions rather than sources.
The two sides agreed to continue their coordination on energy policies through the use of circular carbon economy as a tool to manage emissions and achieve climate targets.
They also agreed to urge developed countries to take their historic responsibilities seriously, through the fulfillment of their obligations by greatly reducing emissions before the target date, and to tangibly help developing countries through financial, technical, capacity building support.
The two sides commended the growth of intra-trade and investment between their two countries, which embodies the depth and sustainability of their economic relations.
They also affirmed their willingness to increase the volume of non-oil trade, facilitate the Kingdom’s non-oil exports to China, as well as to increase the joint quality investment between the two countries.
Regarding water and agriculture field, the Saudi side welcomed the establishment of direct partnership between Chinese private sector and Saudi private sector concerning the investment opportunities available in the Kingdom in the fields of desalination plants and drinking water
The sectors - water transport lines, sewage treatment plants, dams, and agriculture, agricultural and food industries, and the development of agricultural investment projects were also discussed.
Regarding communications and information technology field, the two sides stressed the need to strengthen partnership in areas related to communications, digital economy, innovation and space to achieve a better digital future for the future generations in both countries.
Regarding transportation and logistics field , the two sides stressed the importance of enhancing cooperation and joint action on developing the air and sea transport sectors, modern transport modes and railways, and expediting the completion of studies on the Saudi land bridge project.
The two sides also welcomed the signing of (12) agreements and MoUs in the fields of hydrogen energy, Chinese language education, housing, direct investment, radio and television, digital economy, economic development, standardization, news coverage, tax administration, and anti-corruption.
President Xi Jinping said that he was glad to visit Saudi Arabia again after six years and could still recall vividly his last visit.
President Xi Jinping expressed his pleasure to see the important consensus they reached back then on developing China-Saudi Arabia relations being translated into concrete cooperation. China-Saudi Arabia cooperation enjoys broad prospects.
China sees Saudi Arabia as an important force in the multi-polar world and attaches great importance to developing the comprehensive strategic partnership with Saudi Arabia.
King Salman extended his warm welcome to President Xi Jinping for visiting Saudi Arabia again and said that President Xi Jinping’s successful visit to Saudi Arabia in 2016 was truly memorable.
King Salman noted that he highly values relations with China and is ready to work with President Xi Jinping to advance Saudi Arabia’s comprehensive strategic partnership with China and deliver more benefits to both peoples sharing friendly relations.
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