China and Saudi Arabia: trade and economic cooperation and promising areas of cooperation

In modern conditions, the study of the state and dynamics of trade and economic cooperation between Saudi Arabia and China is becoming increasingly relevant. The purpose of the article is to analyze the current trade and economic cooperation between Saudi Arabia and China and identify new trends and factors in it. The article shows that there is an increase in trade and economic cooperation between the parties, as well as an expanding range of economic cooperation in other areas. Historically, there have been objective prerequisites for bilateral cooperation between Saudi Arabia and China in the trade and economic sphere, both internal (to solve and optimize internal socio-economic development) and external (global instability), and in the 21st century, under the influence of global trends, new ones are being formed, as well as development in specific countries and problems related to which they encounter. by country. During the study period, the trade turnover between Saudi Arabia and China increased significantly, while Chinese imports (crude oil, metal ores and other raw materials) prevailed. Cooperation has been outlined and is strengthening in investment, project, humanitarian, digital, transport and other fields, but especially in the energy sector. A legal framework is being developed as a basis for pragmatic cooperation. Despite the fact that some difficulties remain, the prospects for cooperation are promising, thanks to a pragmatic approach, mutual respect and mutual benefit. The study period is 2015-2023. The study is based on the international statistical database of UNCTAD, analytical, statistical and comparative research methods.