ALULA, Saudi Arabia, Feb. 10 (Xinhua) -- China has shared valuable development experience with emerging economies and continues to play an important role in supporting their growth, Saudi Finance Minister Mohammed Al-Jadaan said.
Speaking in an interview with Xinhua on the sidelines of the AlUla Conference for Emerging Market Economies, Al-Jadaan said emerging economies could benefit from China's experience in economic and financial development.
The two-day conference, held in AlUla from Sunday to Monday under the theme "Policies Amid a Reset of the International Trade and Financial Systems," focused on the challenges and opportunities facing emerging markets as the global economy undergoes major shifts.
Al-Jadaan said the global economy was being hit by multiple shocks, including trade tensions, geopolitical risks, inflation and tighter monetary policy, creating a climate of persistent uncertainty.
He said countries needed to pursue reforms despite the difficult environment, adding that strengthening education systems and investment in human capital was essential to boosting long-term growth.
On China's global role, Al-Jadaan said Beijing's Belt and Road Initiative had delivered tangible economic and social benefits to many emerging and low-income countries and continued to do so. He added that China has also become a key source of development expertise for other nations.
Turning to bilateral ties, Al-Jadaan said China was Saudi Arabia's largest trading partner and a major source of investment, with many Chinese companies operating in the kingdom.
He said cooperation between Saudi Arabia and China could serve as a model for other countries in the region and in Africa, potentially expanding into broader multilateral partnerships among emerging economies.
Looking ahead to the second China-Arab States Summit, due to be held in China later this year, Al-Jadaan said the inaugural summit in Saudi Arabia in 2022 had significantly strengthened cooperation and expressed hope for further concrete outcomes.
He said deeper cooperation with China would be mutually beneficial, given Beijing's influence in finance, geopolitics, and the global economy.
Saudi Arabia is China's largest trading partner in the Middle East, while China is also Saudi Arabia's top trading partner, according to official data.
Bilateral trade reached 107.53 billion U.S. dollars in 2024, with China exporting 50.05 billion dollars worth of goods to the kingdom and importing 57.48 billion dollars. ■
