Thursday, February 19, 2009

Bilateral trade: Saudi Arabia and China meet trade target two years ahead of schedule

China Customs statistics show that in 2008 China and Saudi Arabia's bilateral trade reached 41.8 billion USD. That means the two countries realized the trade goal two years ahead of schedule. During President Hu Jintao's visit to Saudi Arabia in 2006 China and Saudi Arabia, China's biggest trading partner in western Asia and Africa, decided to increase their bilateral trade to 40 billion USD by 2010.

The trade in 2008 has an increase of 64.7 percent over 2007. China's export was 10.8 billion USD, an increase of 39 percent; import from Saudi Arabia totaled 31 billion USD, an increase of 76.6 percent. Saudi Arabia has been China's largest trading partner in western Asia and Africa for years.
Published by Mike Hitchen, Mike Hitchen Consulting
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