Beijing, May 21, 2024 – The finance ministers of China and Saudi Arabia met in Beijing and agreed to strengthen cooperation in finance, taxation, customs, and investment. This meeting marks a new phase in their economic partnership, according to the Chinese Ministry of Finance (MOF).
On the same day, Chinese Vice Premier He Lifeng met with Saudi Minister of Finance Mohammed bin Abdullah Al-Jadaan. Vice Premier He emphasized the importance of the agreements reached by their leaders. He called for closer alignment of development strategies and deeper economic and trade cooperation. This will help promote common development and prosperity for both nations.
Key Meeting of the Financial Sub-Committee
Earlier on Monday, Chinese Minister of Finance Lan Fo’an and Al-Jadaan co-chaired the third meeting of the Financial Sub-Committee. During this meeting, both sides discussed and reached agreements on various topics. These included the macroeconomic situation and policies, finance, taxation, customs, and investment. They also talked about cooperation under the G20, multilateral development agencies, and international financial institutions.
Promoting Economic Development
These agreements are expected to boost economic development and cooperation between China and Saudi Arabia. The Chinese Ministry of Finance highlighted the importance of these talks in building a strong economic partnership. The ministry’s statement noted that these efforts will support shared goals of economic growth and mutual prosperity.
Conclusion
The enhanced cooperation between China and Saudi Arabia shows their commitment to deepening bilateral relations. As these agreements are put into action, both nations are set to achieve significant progress.
