GCC Secretary General Jasem al-Budaiwi stressed the importance of completing these trade discussions soon. However, the talks have been delayed due to Saudi concerns about the impact of low-cost Chinese imports on its domestic industries. In May, sources told Reuters that negotiations had stalled, with Saudi Arabia worried that an influx of cheaper Chinese products could undermine its efforts to grow its local manufacturing sector.
Free trade talks between China and the GCC, which also includes Qatar, Kuwait, Oman, and Bahrain, began nearly 20 years ago. Premier Li highlighted the need to expand bilateral trade and strengthen collaboration in traditional sectors like oil, gas, and petrochemicals, as well as emerging industries such as renewable energy and the green economy, according to a statement from China's Foreign Ministry.
Li also emphasized Saudi Arabia's willingness to work with China on multilateral issues to ensure regional and global peace, security, and stability.
