Jeddah: Deputy Crown Prince Mohammed bin Salman’s visit to China and Japan is a reconfirmation of the active role of the Kingdom at the international level and support to peace and political stability, said Yahiya Rubah, strategic affairs expert and political analyst.
The G20 summit in China this year is being held in difficult and complicated political and economic situation in the world, he said. “The Saudi delegation attending the summit will be led by Prince Mohammed, who is known for his interests and economic ambitions.”
He said that Prince Mohammed, during his Asia visit, would present the concerns of the Arab region and its problems. On the top of these concerns is the Palestinian problem, which requires urgent attention.
“Terrorism has spread its tentacles across many parts of the world and remains a major concern for the Kingdom, which is making all efforts to wipe it out. Hence, the royal visit to the two major countries of Asia is very important,” Rubah added.
The trade exchange between the Kingdom and China totaled over SR1.79 trillion in the last ten years, according to a local analysis. The Kingdom’s exports to China stood at SR1,207 billion, while imports reached SR587.1 million. The trade exchange between the two countries last year was to the tune of SR184.5 billion; with Saudi exports standing at SR92.1 billion and imports at SR92.4 billion.
In 2015, China unseated the US as the largest market for Saudi exports, data from the analysis showed. Saudi exports to China in 2015 amounted to SR92.1 billion and the US SR80.5 billion. For the first time in almost 16 years, KSA in 2015 recorded trade deficit with China reaching SR329 million, compared to SR73.6 billion in 2014. Saudi exports to China in 2015 were 12 percent of the Kingdom’s total exports, compared to 13 percent in 2014; while imports from China 14 percent of KSA’s total imports, compared to 13 percent in 2014.
According to 2014 data, top Saudi imports from China included mobile phones and other electronic goods.
Crude oil and its products are considered the Kingdom’s main exports to China, which imports 1.1 million barrels of crude oil daily from Saudi Arabia.