On Tuesday, Saudi Arabian Crown Prince Mohammed bin Salman (MBS) proposed the merging of the Kingdom’s Vision 2030 initiative with China’s flagship Belt and Road Initiative (BRI) in a phone call with Chinese President Xi Jinping. The proposal comes as the Gulf country looks to diversify its economy away from oil.
In this respect, both leaders discussed ways to strengthen bilateral cooperation in the fields of energy, trade, and technology. Xi said that China aimed “to forge all-dimensional and high-level cooperation and to deepen coordination and cooperation in international and regional affairs” with Saudi Arabia. For his part, the Crown Prince said that Riyadh “is ready to strengthen the strategic interconnection” between Vision 2030 and the BRI. If things go as planned, Saudi Arabia could avail of the lucrative loans that come along with China’s BRI and seek more Chinese investment into its economy. China, on the other hand, would look to tap into the Kingdom’s vast energy reserves while at the same time expand its footprint in the region.
Vision 2030 is an initiative that was proposed by MBS back in 2016, signalling the Kingdom’s plans to reduce its dependence on an oil-based economy. The decision came amid disruptions in the oil industry and increasing Houthi attacks on critical Saudi energy infrastructure. The initiative aims to boost sectors like health, education, infrastructure, and tourism. It also seeks to increase Saudi Arabia’s commitment to climate change initiatives by moving away from a fossil fuel-based industry. Riyadh hopes to achieve this through the NEOM Project, an ambitious initiative that plans to build a smart city in the country’s northwest Tabuk province near the Red Sea by 2025. As part of the project, Saudi Arabia has also proposed the construction of a 170-km long linear urban hub called “The Line”, which would have “zero cars, zero streets, and zero carbon emission.”
Against this backdrop, MBS and Xi also pledged to strengthen efforts to combat climate change and called for increasing efforts to “push for a comprehensive and effective implementation of the Paris agreement on climate change.” Xi expressed his support for two Saudi proposals aimed at promoting climate awareness in the Middle East – Saudi Green and Middle East Green initiatives. Through these projects, the Kingdom will partner with its neighbours to address environmental challenges by implementing the largest afforestation programme in the world.
Apart from climate, the two also discussed ways to strengthen bilateral strategic cooperation. The Chinese president said that he is willing to take the China-Saudi Arabia strategic ties to “new levels.” However, further details on the strategic partnership were not available.
China has been seeking to expand its strategic and economic ties with Middle Eastern countries for a long time. The MBS-Xi talks come after Chinese Foreign Minister Wang Yi visited the country last month as part of his wider tour of the region. In Wang’s talks with MBS, both sides decided to boost the China-Saudi Arabia High-Level Joint Committee which seeks to increase cooperation in the fields of trade, infrastructure, technology, and renewable energy. It was also decided that both sides would deepen cooperation between the BRI and Vision 2030.
Saudi Crown Prince MBS Urges China’s Xi to Merge BRI With Kingdom’s Vision 2030
The proposal comes as the Gulf country is looking to diversify its economy away from oil.
April 21, 2021
Saudi Crown Prince Mohammed bin Salman (MBS) and Chinese President Xi Jinping SOURCE: SAUDI PRESS AGENCY/AFP