Economy China to set up Gulf free trade zone ‘as soon as possible’ By Reuters January 31, 2023 REUTERS/Tiksa Negeri China's Foreign Minister Qin Gang addresses delegates at the inauguration of the new Africa Centres for Disease Control and Prevention headquarters, which China is building and equipping in Addis Ababa, Ethiopia, January 11, 2023 China’s new foreign minister Qin Gang wants to build stronger ties with Saudi Arabia and set up a China-Gulf free trade zone “as soon as possible”, according to a ministry statement published late on Monday. Qin, who was just recently named to the position, made the suggestion in a telephone conversation with his Saudi Arabian counterpart, Prince Faisal bin Farhan Al Saud, adding that China highly appreciates Saudi Arabia’s consistent firm support on issues involving China’s core interests. He said the sides should further expand cooperation on economy, trade, energy, infrastructure, investment, finance, and high technology. In addition, Qin pressed for continuously strengthening the China-Gulf strategic partnership and building “the China-Gulf Free Trade Zone as soon as possible”. Prince Faisal said that Saudi Arabia regards relations with China as an important cornerstone of foreign relations, and that Saudi Arabia fully adheres to the one-China principle, according to the statement from the Chinese foreign ministry.