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Article: Riyadh look to asian trade; a series of multibillion dollar agreements between Saudi Arabia and Pakistan, China and India, have given new impetus to the kingdom's economic strategy and helped it avoid opening up its economy to western domination.
- Article from:
- The Middle East
- Article date:
- May 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE RATE OF MULTIBILLION dollar investment by Indian and Chinese firms into the Middle East over the past two years has been impressive. Now, in an effort to improve energy security in their respective nations, state-owned oil and gas companies in each country have invested in both upstream and gas processing ventures. To date the bulk of trade has been from China to Saudi Arabia. However, there are indications that investments are beginning to flow more strongly in the opposite direction, as the kingdom seeks to build on growing ties with the rest of Asia and also to diversify its portfolio of overseas investments; a series of oil export deals with Asian countries are ...
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