Saudi petroleum minister addresses Asian Investment Conference

"Clearly, Asia’s steady economic rise is not in doubt. So I firmly expect, particularly with new leadership across the region, that Asia’s economic growth and prosperity will continue for the years ahead. This transformation will, of course, require energy to drive it. Again, I repeat my commitment: Saudi Arabia will continue to be a long-term, energy partner within Asia.Wildly fluctuating prices may be good for a few traders, but it is not good for long-term economic stability and growth.My final point on future certainties brings me back to where I started - Saudi Arabia’s deepening partnership within Asia. I believe it will deepen even further in the decades ahead - because Saudi Arabia’s partnership within the region goes far beyond petroleum. In 1998, for example, Saudi Arabia sent ten students to study Chinese in China. Today, more than 1,200 Saudis are studying medical or technical courses in China alone. And our flagship King Abdullah University of Science and Technology, located near Jeddah, is attended by a large number of students from across Asia. While in my day, many Saudis headed to the US and Europe to study, today there are many more heading east.This investment in people highlights the importance with which Saudi Arabia sees its ever closer ties in this region. It is about energy, yes, but it is ultimately about relationships - and about people. And that fills me with confidence.Ladies and gentlemen. To conclude, I want to reiterate Saudi Arabia’s commitment to Asia’s economic growth. I believe we have shared interests, and that we share aspirations to raise living standards for people across the region. Domestically, we are striving to build a brighter future for our people. But Saudi Arabia will not stint in its commitment to meeting the needs of its international customers. I believe we are partners in prosperity - and I hope this continues for many more decades to come."