Saudi Arabia is looking for stronger cooperation with China on commerce investments and power flows quite than competing with the superpower, stated Power Minister Prince Abdulaziz bin Salman.
“We got here to acknowledge the truth of as we speak that China is taking, had taken a lead, will proceed to take that lead. We do not have to compete with China, we now have to collaborate with China,” he informed CNBC’s Dan Murphy throughout the Arab-China Enterprise Convention on Sunday.
He added that there’s worth in working with China as a result of they’ve taken the lead in getting the “proper producers” particularly within the renewables house. “We’ll by no means go once more to this zero-sum sport.”
When requested why the OPEC kingpin has eyes on China, Abdulaziz stated he believes that China’s oil demand continues to be rising, and it’s a pie that Saudi Arabia is eager on capturing.
“This doesn’t suggest we’re not going to collaborate with others,” the minister additionally stated, citing Europe, South Korea, Japan, the U.S. and Latin America among the many events the nation has commerce relations with.
The convention in Riyadh was held towards the backdrop of China and Saudi Arabia’s rising financial and diplomatic ties as each navigate more and more strained relations with the West. When requested about skeptics being vital of the rising Saudi-China ties, Abdulaziz responded: “I completely ignore it.”
He likened enterprise transactions to a pot that did not must be divided amongst nations, saying Saudi Arabia “will go the place alternatives come [its] means.” “There may be nothing political about it. There may be nothing strategical about it.”
“We’re a Saudi Arabia, we do not have to be engaged in what I name it a zero-sum sport. We imagine that there are such a lot of international alternatives.”
