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China Puts Spin On Saudi Arabian Accords

King Abdullah of Saudi Arabia (L) meets with Chinese Premier Wen Jiabao at the Diaoyutai State Guesthouse in Beijing, 24 January 2006. King Abdullah is the first Saudi king to visit China since diplomatic relations were established in 1990. AFP Photo.
By Edward Lanfranco
Beijing (UPI) Jan 25, 2006
China's foreign ministry offered few details Tuesday on agreements with Saudi King Abdullah during his first visit to the Chinese mainland, but relations seem poised for improvement.

Agreements were signed on cooperation on oil, natural gas and minerals; education; economics, trade, investment and technology; taxation; and improvement projects, said Kong Quan, director-general and lead spokesman for the Foreign Ministry's Information Department.

The spokesman was more circumspect about the details of the energy deal, however.

"I have no knowledge on the details of the agreement or accord, but I believe that all the agreements reached will be very beneficial for future cooperation between the two countries," he said.

The historic visit - this is the first visit by a Saudi Arabian king to China after the establishment of diplomatic ties between the two countries -- comes as Saudi Arabia is considering diversifying its export marker for oil. Abdullah's visit also takes him to India, which together with China, has an insatiable need for energy to feed its burgeoning economy.

"I can only tell you that with no doubt Saudi Arabia is a very important oil producer and China is a country with fast economic development," Kong said. "There is huge potential for the two countries on economic cooperation. It will be beneficial for both sides to expand their cooperation in various fields based on principles the two sides signed."

He said the two reached consensus on expanding their political cooperation and understanding in many other fields including science, technology and health, and others.

State-run media said President Hu Jintao, in talks with Abdullah, gave four proposals for expanding bilateral ties: enhance mutual trust and bilateral political relations; strengthen energy cooperation to mutual benefit; expand economic and trade cooperation while exploiting their advantages; develop friendship and cultural exchanges.

Asked if political issues such as terrorism came up, the spokesman said that "during talks with president Hu, a wide range of issues were covered, including bilateral ties, the four proposals made by Hu as well as regional and international issues."

Kong said the focus of regional and international issues was the Middle East and the situation in the Gulf region.

The spokesman said the December dialogue between the head of the National Development Reform Commission and OPEC was definitive.

"On that specific occasion the two sides exchanged views on the energy market. This dialogue has also set the framework forms of cooperation between China and OPEC where many consensuses were reached," Kong said.

He said there were some views exchanged in principle, but on the energy dialogue a very important signal was the agreement between China and OPEC in December stating China's commitment and efforts. When asked if either Saudi Arabia or OPEC had asked China for information about pricing reform in its energy sector, he replied: "My understanding is that crude oil pricing is not to be determined by OPEC or China unilaterally or bilaterally.

"There is no doubt the fluctuation of oil prices will not be in the interest of any party whether a developing nation, industrialized country, or oil producers. All hope oil prices in international markets can be stabilized, something also in the interest of consumers."

He added that China and OPEC had agreed that no matter what changes in the energy market, both sides would strengthen cooperation "to provide more business opportunities for enterprises to bring about a win-win solution."

Source: United Press International

Related Links

Taiwan Apologizes For Mistakenly Releasing Suspected Spy For China
Taipei (AFP) Jan 26, 2006
Taiwanese judicial authorities apologized Thursday for mistakenly releasing a man charged with spying for rival China.








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