China's Xi touts Mideast security, energy ties at Saudi summits

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President Xi Jinping tells Gulf Arab leaders that China would work to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken US dollar's grip on world trade

"China will continue to firmly support the GCC countries in maintaining their own security... and build a collective security framework for the Gulf," says President Xi Jinping at China-GCC summit.

On the third and final day of his visit on Friday, Xi attended a gathering of the six-member Gulf Cooperation Council and a broader China-Arab leaders' meeting.Friday's talks followed bilateral sit-downs on Thursday with Saudi royals that yielded a joint statement stressing "the importance of stability" in oil markets — a point of friction with the United States, which has urged the Saudis to raise production.

Asked if Riyadh would agree to such a scheme, Saudi Foreign Minister Prince Faisal bin Farhan said he had "nothing to add". Bin Salman stressed that the region and the world face challenges and exceptional circumstances that demand collective action. One area of focus for the China-GCC summit was a free trade agreement under discussion for nearly two decades.Xi's visit comes amid persistent rancour between Saudi Arabia and the US, its long-time partner and security guarantor, over oil production, human rights issues and regional security.

 

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