The Council of Saudi Chambers (CSC) is set to organize on Thursday, November 2, the Saudi-Russian Business Meeting to discuss fostering economic cooperation between the two countries. Attendees will include Minister of Commerce and Investment Dr. Majid Al Qassabi, Russian Minister of Energy Alexander Novak, and Governor of SAGIA Eng. Ibrahim Al Omar. The meeting will coincide with the joint Saudi-Russian Governmental Committee meeting.
Several Saudi and Russian companies will partake in the meeting, representing various economic sectors that have priority on the economic cooperation agenda between the two countries. The meeting will include presentations on investment opportunities in Russia, cooperation between the Saudi Public Investment Fund and its Russian counterpart, and the investment environment in Saudi Arabia (presented by SAGIA).
The meeting comes as part of the continued dialogue between Saudi Arabia and Russia, which started in Moscow during the first Saudi-Russian Investment Forum, co-organized by SAGIA, CSC, and the Saudi-Russian Business Forum, after King Salman’s visit to Russia last October.
In light of these joint meetings, the Saudi-Russian economic relations are expected to grow in the upcoming period, backed with the support of the two countries’ leaderships, and involving the business communities in both countries in the economic development process.
It is worth noting that Saudi Arabia and Russia signed a number of agreements to activate cooperation in various fields within an institutional framework, supervised by entities such as the joint Saudi-Russian Governmental Committee for Cooperation in Trade, Economy, Science, and Technology, and the Saudi-Russian Business Council at CSC.
The business communities in both countries look forward to fostering their partnership by taking advantage of the trade and investment opportunities that the Saudi Vision 2030 will bring about. In addition to the significant exportation opportunities that the Russian market offers to Saudi companies. Targeted sectors for both countries include energy, mining, petrochemicals, training, healthcare, infrastructure, real estate, technology and communications, manufacturing trucks and agricultural equipment, pharmaceuticals, geological exploration, and construction of oil tankers.