Saudi Arabia is seeking stronger cooperation with China on trade investments and energy flows rather than competing with the superpower, said Energy Minister Prince Abdulaziz bin Salman.
“We came to recognize the reality of today that China is taking, had taken a lead, will continue to take that lead. We don’t have to compete with China, we have to collaborate with China,” he told CNBC’s Dan Murphy during the Arab-China Business Conference on Sunday.
He added that there is value in working with China because they have taken the lead in getting the “right manufacturers” especially in the renewables space. “We will never go again to this zero-sum game.”
The conference in Riyadh was held against the backdrop of China and Saudi Arabia’s growing economic and diplomatic ties as both navigate increasingly strained relations with the West.
“This doesn’t mean we’re not going to collaborate with others,” the minister also said.
