Riyadh: The King Abdulaziz International Conference Centre in Riyadh, Saudi Arabia, will play host to a significant business event on June 11 and 12, with the goal of fostering trade ties between China and Arab countries.

The theme of the 10th Arab-China Business Conference is "Collaborating for Prosperity." The purpose of the event is to pinpoint key areas where the Arab nations and the Asian economic powerhouse can cooperate.

Together with the Arab League, the China Council for the Promotion of International Trade, and the Union of Arab Chambers, the Saudi Ministry of Investment and the Ministry of Foreign Affairs organised the conference. With more than 2,000 attendees, it is billed as the largest Arab-Chinese business conference.

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The two-day conference will include networking opportunities as well as panel discussions on a variety of subjects, including China's Belt and Road Initiative, renewable energy, pharmaceuticals, startups, esports, tourism, and food security, according to the conference website.

Prince Abdulaziz bin Salman, the Saudi Arabian Minister of Energy, Amr Al-Madani, the CEO of the Royal Commission of Al-Ula, Fahd Alajlan, the President of the King Abdullah Petroleum Studies and Research Centre, and Fahd Cynndy, the CEO of the Saudi Aerospace Engineering Industries, are a few of the keynote speakers at the event.

Other speakers for the event include Tong Li, CEO of Bank of China International Holdings, Ahmed Aboul Gheit, secretary-general of the League of Arab States, and Laura May-Lung Cha, chairperson of the Hong Kong Exchanges and Clearing.

Top CEOs, business owners, investors, and government officials will share their perspectives on how to improve trade ties between the region and China during up to 20 panel discussions and workshops that will be held throughout the event.

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Due to the fact that both nations are presently concentrating on developing a number of strategic sectors, the conference is anticipated to catalyse trade relations between Saudi Arabia and the Asian giant.

A meeting between the Saudi energy minister and Zhang Jianhua, head of China's National Energy Administration, and his delegation took place in Riyadh earlier in June to discuss ways to improve bilateral ties in a number of energy-related areas in order to advance Saudi Vision 2030 and China's BRI objectives.

The significance of ensuring the security of the energy supply to markets, joint initiatives to transform crude oil into petrochemicals, and creative uses for hydrocarbons were also covered at the meeting.

China's Baoshan Iron and Steel Co. announced in May that it intended to invest SR15 billion ($4 billion) in a project to produce metal plates in Ras Al-Khair's economic zone.

Energy behemoth Saudi Arabian Oil Co. also signed an agreement in March to form a joint venture to build a refinery and petrochemical complex in China's Liaoning province with Norinco Group and Panjin Xincheng Industrial Group.

In the joint venture known as Hujain Aramco Petrochemical Co., Saudi Aramco will hold 30% of the shares, while Norinco Group and Panjin Xincheng Industrial Group will hold 51% and 19%, respectively.

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According to Khalid Al-Falih, the minister of investment for Saudi Arabia, trade and cultural ties between China and the Arab world have always been strong.

Although there have been trade and cultural ties between China and Arab nations for more than 2000 years, they have grown significantly deeper as a result of the complementary nature of our economies in areas vital to the global economy. Participants from the public and private sectors will be able to talk about the future of these partnerships at the Arab-China Business Conference, according to Al-Falih.

"China's strategic direction is in line with the Kingdom's Vision 2030," he continued. We anticipate that the conference will serve as a forum to discuss opportunities that will be advantageous to both regions, as we recognise the significance of leveraging each region's strengths.