The Ministry of Investment of Saudi Arabia (MISA) and Invest Saudi will host a delegation of senior Chinese and Arab officials and business leaders at the 10th Arab-China Business Conference on 11-12 June.
The conference will be jointly organized with the Union of Arab Chambers, the League of Arab States and the China Council for the Promotion of International Trade (CCPIT).
Held under the theme of “Collaborating for Prosperity,” the conference will bring together more than 2,000 government officials and business leaders from China and several Arab nations to discuss areas of mutually beneficial cooperation in the areas of economy, trade and investment.
Attendees will learn about opportunities in technology, AI, renewable energy, agriculture, strategic minerals and other key sectors from a wide range of high-level government and private sector speakers. They will also participate in sector-specific breakout sessions, while Chinese investors will explore the world-leading support services available from Invest Saudi, the Kingdom’s investment promotion platform.
The Conference will build on the success of the Arab-China Summit in December 2022, where His Royal Highness Prince Mohammed bin Salman bin Abdulaziz and Chinese President Xi Jinping announced a comprehensive strategic partnership agreement between Saudi Arabia and China.
The conference comes at a time of growing trade between Saudi Arabia and China, with China now Saudi Arabia’s largest trading partner and bilateral trade between the two countries reaching $106.1 billion in 2022. China is also experiencing an economic rebound following the relaxation of COVID restrictions, with Oxford Economics forecasting GDP growth of 5 percent in 2023 and 4.3 percent in 2024.
This growth will be driven by an 8.3 percent YoY rebound in Chinese private consumption in 2023 caused by increased mobility and a broadening of the recovery in retail sales and the services sector. The conference will therefore be an opportunity for participants to explore how to maximize the benefit of China’s economic rebound.