Saudi Minister of Finance Ibrahim Abdulaziz Al-Assaf met here today with the Chinese Minister of Finance Jin Renqing on the fringes of the meetings of finance ministers and central banks' governors of the G20 group countries currently held in Xianghe, China. During the meeting, the Chinese Minister of Finance stressed the strong relations between the Kingdom and China. He noted that China is a stable and dependable market for Saudi oil and petrochemical products. He added that Saudi Arabia is a growing market and receives increased quantities of Chinese products. He commended the Kingdom's efforts in trying to stabilize the international oil market. In turn, Saudi Minister of Finance Ibrahim Abdulaziz Al-Assaf thanked the Chinese Minister of Finance and expressed keenness to develop relations between the two countries. The two sides discussed ways of cooperation between the two countries especially in the field of oil and petrochemicals and the desire to quickly sign a deal to avoid tax duplication between the two countries. Negotiations on the deal have already been completed. The meeting was attended by Saudi Arabian Monetary Agency's Governor Hamad Al-Sayyari and Under Secretary of the Ministry of Finance For Economic Affairs Hamad Al-Bazei. Later, Saudi Minister of Finance Ibrahim Abdulaziz Al-Assaf met with U.S. Treasury Secretary John Snow. During the meeting, they discussed Saudi-U.S. relations in the field of economy and ways of developing them.
