MONITORING DESK
RIYADH: As Chinese President Xi Jinping is all set to kick start his visit to Saudi Arabia from Wednesday, the kingdom will eye mostly economic gains instead of a shift away from its partnership with the United States, analysts said on Tuesday.
The Chinese President will arrive in Riyadh on Wednesday for a three-day visit. During his visit, Xi will meet with the Saudi royals, leaders of the Middle East, and the regional Gulf Cooperation Council.
It coincides with heightened tensions between the United States and Saudi Arabia over issues ranging from regional security to energy policy and human rights violations.
US-Saudi differences
The differences in the decades-old collaborations came to the spotlight in October 2022 when the oil bloc, OPEC+, agreed to cut oil production by two million barrels per day. The White House said the move amounted to “aligning with Moscov” on the Ukraine war.
On Sunday, OPEC+, which includes Russia and Saudi Arabia, decided to maintain the oil cuts.
Xi Jinping’s visit to Saudi Arabia
Since 2016, this is Xi’s first visit to the world’s biggest crude oil exporter.
The Saudi state media reported that the visit would include a bilateral meeting chaired by Saudi King Salman. Saudi Press Agency reported on Tuesday that Saudi Crown Prince and Prime Minister Mohammed bin Salman will also attend the summit.
The Chinese President will also attend a meeting with rulers of the six member states of the Gulf Cooperation Council (GCC) and talks convening leaders from elsewhere in the Middle East, the Saudi Press Agency reported.
Chinese President to discuss deals with Saudi rulers
China is Saudi Arabia’s biggest buyer of crude oil, purchasing roughly a quarter of Saudi Arabia’s oil exports.
Analysts say that beyond energy, the leaders of the two countries are expected to deliberate over the potential deals that could pave the way for Chinese firms to be more deeply involved in mega-projects that are central to Saudi Crown Prince Mohammed bin Salman’s vision of shifting Saudi Arabia’s economy away from depending on oil export.
These projects include the $500 billion mega-city popularly known as NEOM city.
Chinese President Xi Jinping’s last visited the kingdom in 2016, the year before Prince Mohammed bin Salman became first in line to the throne. The visit also featured stops in Iran and Egypt.
Prince Mohammed visited China and met Xi on an Asia tour in 2019.
