Chinese trade zone established in Saudi Arabia
Construction recently began on a 20,000 square kilometer Chinese trade zone in Jeddah, Saudi Arabia. The two million dollar structure is the first of its kind in the Middle East and is scheduled to commence operation this August, reported the official Xinhua news agency.
The zone will feature China-made products such as medicines, clothing and textiles, chemicals and non-ferrous metal commodities. Trade between Saudi Arabia and China increased to nine billion Saudi riyals ($2.4 billion) in the first 11 months of 2000 from 6.7 billion riyals ($1.78 billion) in the same period of 1999. The Kingdom’s exports to China are mainly oil and petrochemical products. — (menareport.com)
© 2002 Mena Report (www.menareport.com)