Saudi Arabia 'joining CPEC to make Gwadar an oil city'
With the Islamic Kingdom joining the Belt and Road Initiative (BRI) of the Chinese government, the major stakeholders - Islamabad and Beijing - will speed up the efforts to complete projects as soon as possible.
Reports in media suggest Saudia Arabia is going to turn Gawadar into an oil city.
Saudi Arabia ‘to join CPEC’ for stonger trade ... 04:40 PM | 22 Sep, 2017
ISLAMABAD - The Kingdom of Saudi Arabia will soon join the China-Pakistan Economic Corridor (CPEC) and undertake ...
In September last year, Saudi Ambassador to Pakistan Nawaf Saeed Ahmed Al-Malky said that Saudi Arabia would "soon" undertake investments at Gwadar Port and join the China-Pakistan Economic Corridor (CPEC).
The Arab kingdom is one of the many countries who have shown keen interest in the China-Pakistan Economic Corridor (CPEC), primarily to relate its economy with China and take steps in achieving its 2030 Vision.
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The vision of the KSA 2030 Plan is to diversify the economy with mega projects like powerhouses and energy to reduce the kingdom's dependency on oil.
One of the pillars of their vision plans is to use its unique location and become a global hub for vast economic activities. The CPEC would provide the Saudis a network of great trade pattern to engage even better in the world trade traffic.
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GWADAR - Prime Minister Shahid Khaqan Abbasi on Monday inaugurated the first phase of Gwadar Port's Free Zone in ...
KSA will also be able to help China to have a better crude oil for its import purposes as billions of dollars of China’s economy is highly dependent on trade activities.
Pakistan and Saudi Arabia both can benefit from the exclusive trade routes under the BRI project.
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