Saudi Arabia, China sign nuclear and renewable energy agreement
Saudi Arabia seeks to reduce its dependence on hydrocarbons and bolster its ties with the world's second-biggest economy.
The memorandum of understanding (MoU) was signed on Saturday in the Chinese capital Beijing between the King Abdullah City for Atomic and Renewable Energy (K.A.CARE) and the Chinese National Nuclear Corporation (CNNC), the country's state-owned nuclear energy company.
K.A.CARE, established by Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz in 2010, is the Kingdom's renewable energy research hub, mandated to seek alternatives to non-renewable sources of energy such as hydrocarbons.
Saudi Arabia is China's biggest supplier of crude oil, covering 19 percent of all Chinese oil imports and has been its biggest trading partner in Western Asia and Africa for 12 years running. ■