Processing Trade News
- China, Saudi Arabia to boost engineering project cooperation
Date: 25-Jun-2007 Sources: (Xinhua Online)
RIYADH, June 23 (Xinhua) -- Chinese construction enterprises can tender for projects directly in Saudi Arabia, according to an agreement signed by China and Saudi Arabia on Saturday.
The memorandum of understanding on engineering project cooperation, signed by Vice Minister of Municipal and Rural Affairs Mansour bin Motaab bin Abdel-Aziz and visiting Chinese Assistant Minister of Commerce Chen Jian, will boost bilateral cooperation in economic and trade, said Chen at the signing ceremony.
In the past, Chinese construction enterprises could only be engaged in business in Saudi Arabia as subcontractors, and the signing of this memorandum will offer them the rights as direct bidders in projects under the Ministry of Municipal and Rural Affairs such as roads, bridges and buildings.
The agreement, marking a significant fruit of the two countries' economic and trade cooperation in recent years, will expand the bilateral cooperation in engineering as other sectors of Saudi Arabia will act accordingly, said Chen.
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