CHINA’S ECONOMIC RELATIONS WITH SAUDI ARABIA

Author Name: Arshad Ahmed

Volume: 01 &  Issue:

Country: INDIA

DOI NO.: NA, DOI Link: http://doi-ds.org/doilink/08.2020-25662434/

Affiliation:

1. Research Scholar, Department of Geography, Sikkim University
   E-mail:aachowdharycuh@gmail.com

ABSTRACT

The diplomatic relationship between China and Saudi Arabia was established in July 1990, subsequently the trade between the two countries flourished largely based mainly in Saudi oil exports. The bilateral trade has achieved a steady growth in economic partnership since the establishment of diplomatic relations between the two. China and Saudi Arabia plays dominant role in their own regions. Beijing is a major country in the East Asia while Riyadh plays a dominant role in Gulf region. Now a day’s Riyadh remain Beijing’s top trade partner in the Middle East and North Africa, for thirteen years consecutively. The fact that China imports oil from Saudi Arabia is the main pillar of the Sino-Saudi Arabia trade structure. The two countries have witnessed rapid development in exchanges and cooperation in political, economic, cultural, educational, and other aspects since the establishment of their relations.Two-way trade between these countries promotes the cooperation and coordination. Beijing is the second largest economy in the world while Saudi Arabian economy is the world’s largest exporter. Both China and Saudi Arabia feel that closer Sino-Saudi political relations will lead to greater economic benefits. The trade relationship between the two countries has resulted in strong ties between the two economies.

Key words: East Asia, China, Saudi-Arabia, Gulf region, Middle East, Trade.