Riyadh will kick off on Sunday the 10th Arab-China Business Conference, the largest Arab-Chinese economic conference. Gatherers are expected to sign contracts worth over 40 billion dollars during the two-day event.

The business conference will draw about 2,000 attendees from Greater China. Participants are set to stress the importance of building a nation based on a new age of energy and that is backed by a diverse economy, which covers sciences, communication, technology and green energy.

The meeting will focus on bolstering economic, industrial, technological and space cooperation between China and the Arabs.

Eric Fang, vice chairman and president and CEO of the National Center for Sustainable Development in Washington, said the Saudi leadership has taken bold steps in building a nation that is focused on a new age of energy.

It has focused on an economy that brings together professions that are necessary for this new age, he told Asharq Al-Awsat.

On the future of trade and investment between China and Arabs, he said the cooperation between them is growing and that he predicts that it will continue to grow in every sector in the future.

There are opportunities to expand all joint work, he stressed.

He noted that there will always be parties that will doubt any new relationships because they believe that old relations are more reassuring. The future, in its very nature, is an unknown and challenges will inevitably arise between any groups.

However, when a common beneficial goal is set, satisfaction and calm prevail, he noted.

Asked about the agreements that may be inked at the Riyadh conference, he remarked that individual agreements come and go, but the meeting will establish a continuous process that could be backed by governments with their sights set on the economy of new energy.

The Saudi and Chinese participation at the event will mark a turning point to renew the Paris Agreement and their commitments to the 2030 goals, Fang added.

He hoped that people would begin to realize that economic growth and green technology are two sides of the same coin.

Fang praised Saudi Arabia’s Vision 2030 that seeks to provide opportunities for its people and establish a green society. Creating jobs is fundamental for the success of any country.

Saudi businessman, Abdullah bin Zaid al-Meleihi, Chairman of the Saudi Excellence Holding Company, said the Riyadh conference is expected to expand Arab-Chinese partnerships and specifically, Saudi-Chinese partnerships, in space, new technology, AI and green energy.

The conference will capture the attention of the world given the great opportunities at hand, he said.

He noted that China boasts huge investments in Saudi Arabia and the partnership between them is one of the greatest stimulators of the global economy.

He revealed that the Saudi Excellence Holding Company will establish strategic partnerships with Chinese companies to form a strong industrial base in economic cities that were recently unveiled by Prince Mohammed bin Salman, Crown Prince and Prime Minister.

Source: https://english.aawsat.com/business/4376956-saudi-energy-minister-i-don%E2%80%99t-have-crystal-ball-predict-future-oil-markets