Amin Nasser, President and CEO of Saudi Aramco, during a speech at the China Forum, stressed the importance of development in Beijing and the possibility of enhancing cooperation between Aramco and its Chinese partners.

In his speech, Al-Nasser addressed the importance of strengthening trusted partnerships between Aramco and China, and identified key areas for greater cooperation, which include emissions reduction technologies, materials development, and the chemical sector.

Al-Nasser pointed out that the strategic goals of both Aramco and China are aligned, especially in the chemical sector. Last year, Aramco signed two investment agreements in the field of converting liquids into chemicals in China, with a total exceeding $15.4 billion.

Al-Nasser stressed the possibility of stronger cooperation between Aramco and China to promote broader economic globalization. Because Aramco is one of the most reliable energy suppliers to China; Aramco plays a strategic role in the country’s economic development, and Al-Nasser said: “Aramco’s commitment to China’s long-term energy security, which will advance the growth and development of this great nation, is firm.”

With China's increasing focus on high-quality development, greater opportunities for investment and cooperation are emerging. As relations between Saudi Arabia and China grow, the Kingdom attaches great importance to China in its global investment strategy, and this has led to multiple investments in the country last year.

The Chinese market represents 40% of global chemicals sales, and Aramco seeks to grow in this sector as it owns a majority stake in SABIC, a leading global chemicals company. Collaboration with China is therefore essential to Aramco's ambitious goal of increasing liquids-to-chemicals production to 4 million barrels per day by 2030.

Expert analyzes indicate that strengthening cooperation between Aramco and China will open broad horizons for enhancing economic development in both countries, and will contribute to achieving their strategic goals in the fields of energy and chemicals.