Saudi King Salman and Chinese President Xi Jinping Tuesday signed in Riyadh 14 agreements and memoranda, many on economic issues. Xi arrived in Saudi Arabia earlier in the day for a two-day visit as part of a Middle East tour. Saudi state television reported that the king and President Xi held talks Tuesday afternoon. Deputy Crown Prince and Defense Minister Mohammad bin Salman greeted the Chinese delegation on their arrival. China and Saudi Arabia signed 14 memoranda of understanding to enhance cooperation, research, investment and development in the fields of trade, satellite navigation technology, renewable energy and oil. Two Saudi loans for Chinese environmental projects were agreed on, but the size of these loans was not disclosed. One memorandum dealt with establishing a mechanism for consultations on fighting "terrorism," while another foresaw cooperation on building a nuclear reactor, the official Saudi Press Agency said. "Since China and Saudi Arabia forged diplomatic ties 26 years ago, our relationship has developed by leaps and bounds, with mutual political trust deepening continuously and rich results in cooperation in various fields," Xi said in written remarks, cited by China's official Xinhua news agency. Xi is Wednesday to join Salman for a ceremony to inaugurate an energy research center in Riyadh. In an official readout of their meeting, Saudi Arabia said that King Salman had decorated the Chinese president with the country's most prestigious medal, named after the country's founder, King Abdel-Aziz. During his two-day visit, Xi will also be holding talks with the chiefs of the Gulf Cooperation Council and the 57-nation Organization of Islamic Cooperation while in the kingdom. Economic ties between Saudi Arabia and China are central to their bilateral relationship. Saudi Arabia is China's biggest supplier of crude oil, accounting for one in six barrels of China's crude oil imports, the Xinhua news agency reported. China is Saudi Arabia's second largest trade partner, with two-way trade reaching $69 billion in 2014. Xi last visited Saudi Arabia in 2008 while vice president, and the Saudi monarch visited Beijing in 2014 when he was still crown prince. A day before his arrival, the Chinese leader published an article in the Saudi newspaper Al-Riyadh describing the kingdom as "a brotherly state" and saying he looks forward to elevating Chinese-Saudi bilateral relations. He noted that following the 2008 earthquake that hit China's Sichuan Province, Saudi Arabia provided more than $60 million in assistance, the greatest assistance package ever received by the Chinese government. After his visit to Saudi Arabia, Xi will travel to Egypt where he will meet with President Abdel-Fattah al-Sisi and deliver a speech at the Cairo headquarters of the Arab League on China's policies in the Middle East. In Iran, Xi will meet Iranian President Hassan Rouhani as Tehran looks to attract foreign investment following the lifting of nuclear sanctions.
