Arab countries will implement the “One Belt, One Road” initiative with China
The participants of the first Sino-Arab summit emphasized the “firm commitment of the Arab countries to the one-China policy” in their final statement.
The first Sino-Arab summit, held on Friday in Riyadh, reached an agreement on the joint implementation of the “One Belt, One Road” initiative. This is stated in the summit’s final statement, which was distributed.
“We emphasize the importance of cooperation to achieve sustainable development, reduce and eliminate poverty, participate in the implementation of the One Belt, One Road initiative, and take advantage of the promising opportunities for cooperation and development that it provides,” the Sino-Arab declaration states.
Participants at the summit agreed to “work on harmonizing this initiative with the vision of Arab countries’ development in order to achieve common interests and mutual benefit.”
The final statement emphasizes “the Arab countries’ firm commitment to the one-China policy, support for China’s efforts to preserve its sovereignty and territorial integrity, and support for China’s position on the Hong Kong issue.”
Participants at the summit “emphasized the importance of concerted efforts to find political solutions to regional conflicts in accordance with international legitimacy, particularly the crises in Syria, Libya, and Yemen,” as well as “the need to preserve the unity, sovereignty, and territorial integrity” of these countries. “The Chinese side reaffirmed its support to the Arab countries in resolving security issues in the region on the basis of solidarity and cooperation, as well as its support to the Arab peoples in independently finding their own ways of development,” the joint statement reads.
The Sino-Arab Summit also reaffirmed “support for efforts to find a political solution to the Ukrainian crisis and restore peace and security in accordance with international law, the UN Charter, good neighborliness, sovereignty, and territorial integrity of states in such a way as to guarantee respect for the fundamental interests of all parties.”
The visit of Xi Jinping and the outcomes of the meetings
Beijing is willing to promote yuan-based oil and gas trade agreements with the GCC countries.
On Wednesday, Chinese President Xi Jinping arrived in Riyadh. He met separately with Saudi King Salman bin Abdulaziz Al Saud and Egyptian President Abdel Fattah al-Sisi on Thursday. On Friday, Xi Jinping attended a meeting of the leaders of the Cooperation Council for Arab States of the Persian Gulf (GCC) and the Sino-Arab summit, both of which were attended by the heads of dozens of Arab countries.
Following the meetings, China and Saudi Arabia signed a comprehensive strategic partnership agreement, a plan to align the two countries’ long-term programs: the Saudi Vision 2030 program and the Chinese Belt and Road Initiative, as well as a number of memorandums of understanding in various fields. The two countries’ businesses signed 34 investment agreements.
The GCC member countries and China agreed to establish a joint investment council and a nuclear safety center as a result of the summit.