Faheem Al-Hamid
Okaz/Saudi Gazette
JEDDAH — In response to invitations from Pakistan, China and Japan, Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, left on Sunday for the three nation tour.
After a stopover in Pakistan, the Crown Prince will arrive in China on Monday.
Prince Muhammad will visit Japan from Sept. 1-3 before returning again to China to lead the Kingdom’s delegation to the G-20 summit which will be held on Sept. 4-5.
According to informed sources, Prince Muhammad’s talks in Beijing and Tokyo will focus on the current oil market situation, bilateral cooperation to boost relations in all fields and the plans to issue Aramco’s shares in local and international markets.
During the visit, the Deputy Crown Prince will sign a number of agreements and memoranda of understanding (MoU) with the two countries.
The agreements will include cooperation in the sectors of mining, science, technology, renewable energy and other areas.
Prince Muhammad will also explain to the leaders of the two countries and the G-20 the Kingdom’s 2030 Vision which is aimed at diversifying the sources of revenue and reducing dependence on oil.
China is the third largest importer of Saudi oil after the United States and Japan. According to statistics, China had imported 53.9 million of crude oil from the Kingdom in 2013 which constituted about a fifth of China’s entire oil imports.
The volume of trade exchange between the two countries reached SR1.73 trillion during the past 12 years consisting of SR1.2 trillion of Saudi exports to China against imports of SR532 billion.
China was the most important trade partner of the Kingdom in 2014 with trade exchange reaching SR247.8 billion constituting about 13 percent of the volume of the Kingdom’s trade exchange with the entire countries.
Chinese Ambassador to Riyadh Li Huaxin welcomed Prince Muhammad in his country and said his visit would further boost bilateral ties and the strategic partnership between the two countries.
He said Prince Muhammad will exchange views with Chinese leaders on ways and means to further deepen bilateral ties in the political, diplomatic, trade and energy fields.
The ambassador said the relations between the two countries developed fast since their restoration in 1990.
In Tokyo, Prince Muhammad will hold talks with Prime Minister Shinzo Abe and other top government officials on ways and means to further boost the strategic partnership between the two countries. He will also brief Japanese investors on the Kingdom’s 2030 Vision.
A number of Japanese companies are expected to play various roles in the Vision.
