DR MANSOUR BIN MITEB BIN ABDULAZIZ, THE DEPUTY MINISTER OF MUNICIPAL AND RURAL AFFAIRS, SIGNED HERE TODAY A MEMORANDUM OF UNDERSTANDING (MOU) WITH CHAN JIAN, THE CHINESE ASSISTANT MINISTER OF TRADE. SPEAKING ON THE OCCASION, PRINCE MANSOUR WELCOMED THE CHINESE DELEGATION, AND HOPED THAT THE VISIT WOULD FURTHER CEMENT BILATERAL RELATIONS. ON HIS PART, THE CHINESE ASSISTANT TRADE MINISTER SAID THE SIGNING OF THE MOU EMBODIES THE EXISTING STRONG RELATIONS BETWEEN SAUDI ARABIA AND CHINA. THE VOLUME OF THE TRADE EXCHANGE BETWEEN THE TWO COUNTRIES AMOUNTED LAST YEAR TO $20 BILLION. THIS YEAR THE TRADE EXCHANGE BETWEEN THE TWO COUNTRIES IS EXPECTED TO BE $20.3 BILLION. SAUDI ARABIA AND CHINA ARE COOPERATING IN THE FIELDS OF OIL AND GAS AND OTHER INDUSTRIAL SPHERES.
