China's Premier Li in Riyadh calls for an acceleration of Gulf trade negotiations

China's Premier Li Qiang urged Beijing on Wednesday to speed up free trade negotiations with the Gulf Cooperation Council, which includes Saudi Arabia.

Li made these remarks at a meeting with GCC Secretary-General Jasem al-Budaiwi in Riyadh, reported Chinese state-run news agency Xinhua. Li will also visit the UAE later this week.

The Saudi Arabian news agency SPA reported later that al-Budaiwi stressed in the meeting the importance of moving ahead and finalising trade talks "in the near future".

Sources told us in May that free trade talks had reached a deadlock due to Saudi Arabia's concerns about cheap Chinese imports.

Saudi Arabia is concerned that a wave cheaper Chinese versions of the products it hopes to produce domestically will be detrimental to its industrial agenda.

China and the GCC, which includes Qatar, Kuwait and Bahrain, began free trade negotiations with China nearly 20 years ago.

(source: Reuters)