Saudi Arabia will host the 10th Arab-China Business Conference and the 8th Investment Symposium from June 11-12 in Riyadh, the Ministries of Investment and of Foreign Affairs said in a joint statement on Tuesday.

Under the theme "Collaborating for Prosperity," the two-day forum will have over 2,000 attendees exploring the next frontiers of trade and investment cooperation between Saudi Arabia, China and the Arab region.

The upcoming conference will examine several sectors key to the Arab-China trade and investment relationship, including construction, logistics, financing, manufacturing, mining, minerals and petrochemicals.

The event will also explore emerging areas of shared interest, such as tourism, entrepreneurship, e-sports and special economic zones (SEZs), which aim to attract foreign direct investment (FDI) in nascent and mature industries.

The conference is expected to witness signing of several memoranda of understanding and agreements. Trade between the Arab countries and China reached 1.6 trillion Saudi riyals ($430 billion) in 2022, a 31 percent increase over 2021.

Saudi Arabia is the top trade partner with China among Arab countries, constituting nearly 25 percent of the total trade volume. Trade between the nations reached around SAR400 billion in 2022, a 30 percent increase year-on-year, the statement added.

(Writing by D Madhura; Editing by Anoop Menon)