Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Saudi-Russian Forum to Boost Cooperation

Saudi-Russian Forum to Boost Cooperation

Monday, 14 October, 2019 - 06:15
File photo of Russian President Vladimir Putin

Saudi and Russian chief executives kick off on Monday a business forum to discuss means of enhancing future partnership in energy and industry, in addition to sustainable partnership in agriculture and food security strategies.

The forum is expected to create a suitable environment for Saudi-Russian investment and witness the signing of several memorandums of understanding, the granting of trade licenses, and joint workshops.

Head of the Saudi-Russian Business Council, Tariq Al Qahtani, told Asharq Al-Awsat on Sunday that the forum would witness the signing of several agreements and memorandums to enhance cooperation between Saudi and Russian businessmen.

Monday’s forum comes in line with the visit of Russian President Vladimir Putin to the Kingdom.

Qahtani said the sectors involved in the Saudi-Russian partnership include heavy industry, shipbuilding, air and maritime transportation, logistic services, infrastructure projects, mining, food industry and food safety, agriculture, in addition to petrochemical, gas and plastic manufacturing.

He expected Putin’s visit to Riyadh to boost Saudi-Russian commercial exchange, which reached a growth of 43 percent last year.

He said Riyadh and Moscow should continue to coordinate at the highest levels to protect the balance of the global energy market.

According to Qahtani, the Saudi-Russian economic relationship has a strong base, in the form of business and investment agreements executed by the Saudi-Russian Joint Committee and the Saudi-Russian Business Council.

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