Sino-Saudi Relations: Refineries take it to the next level | BELT & ROAD
"Energy relations are extending beyond trade in crude to include sizable investments in refineries and natural-gas fields."
Florence Eid-Oakden, Ph.D, Chief Economist
Charlene Rahall, Mingqiao Zhao, Jing Xuan Ong, Analysts
Part I of this two-part series analyses growth in Sino-Saudi trade, particularly in energy. Part II highlights the opportunities for scaling up, in light of China’s One Belt One Road (OBOR) initiative and Saudi Arabia’s Vision 2030.
- The Sino-Saudi relationship occupies many different areas of cooperation, but energy remains the most significant aspect.
- Bilateral trade increased by 50% from 2009 to USD 64.3B in 2011, achieving the USD 60B trade volume target of 2015, four years earlier.
- Energy relations are extending beyond trade in crude to include sizable investments in refineries and natural-gas fields.
The Regional views series are thematic papers aimed at identifying and analysing factors behind medium to long-term economic trends shaping the region. Our analysis draws conclusions that help businesses and investors get ahead of the curve. As a firm staffed by Middle Easterners, we focus on insight rather than standard analysis.
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