Saudi-Chinese Economic Meeting, which is organized by Economic Cooperation and Foreign Trade Bureau in cooperation with Chinese Embassy in Saudi Arabia and the Council of Saudi Chambers of Commerce and Industry, started here today in presence of member of political bureau of Chinese Communist Party Central Committee Chang Dah Jiang and Vice Chairman of the Council Abdulrahman bin Ali Al-Jeraisy. At outset of the meeting, the Council's Secretary General Dr.Fahd bin Saleh Al-Sultan welcomed the Chinese members saying that the Saudi economic growth rate amounted to 5.5% in 2005 and it is expected that it will reach 6.5% this year accompanied by very low inflation rate of 0.4% . He pointed out that 13 trade and commercial treaties will be signed during the period of the meetings between Saudi and Chinese businessmen involving an amount of $ 410 million. Al-Jeraisy, then, delivered a speech in which he highlighted the economic and trade cooperation between Saudi Arabia and China which jumped from $300 million to $ 15 billion making Saudi Arabia the leading partner for China in the Middle East. Al-Jeraisy added that promising investment opportunities abound in Saudi Arabia such as the investment in the infrastructure of King Abdullah Economic City, railways construction in addition to gas and petrochemical projects. Later, Chinese Ambassador to Saudi Arabia Wu Chunhua delivered a speech in which he highlighted the economic cooperation between the two countries pointing out to the importance of such meetings in further broadening bilateral trade and commercial ties.
