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Saudi Private Sector Calls to Revive Arab-Russian Economic Relations

Saudi Private Sector Calls to Revive Arab-Russian Economic Relations

Friday, 28 January, 2022 - 07:00
Ajlan Al-Ajlan, Chairman of Council of Saudi Chambers of Commerce (SPA)

Saudi private sector representatives called for setting a road map to strengthen economic relations with Russia.


The call followed statements by Chairman of Council of Saudi Chambers of Commerce Ajlan Al-Ajlan in which he stressed the need to adopt the necessary measures to stimulate bilateral business councils, increase the benefit of government support and activate cooperation in the field of small and medium enterprises.


During his participation in a seminar on the “prospects for the development of Russian-Arab relations in the new global reality”, within the activities of the Arab-Russian Business Council held at Expo Dubai 2020, Al-Ajlan emphasized the role of the Council as an important platform for enhancing economic ties between the two sides.


In this regard, the chairman of the Federation of Saudi Chambers of Commerce underlined the need to overcome financial and banking obstacles, motivate Russian banks to open branches in the Kingdom and expedite the signing of a customs exemption agreement.


He also called for establishing a direct maritime and air shipping route between the two countries to facilitate import and export operations and standardizing specifications to allow the flow of trade.


The activities of the Economic Forum of the Arab-Russian Business Council were held under the title: “Russia and the Arab World: New Opportunities in the New Reality”, with the participation of representatives from 16 Arab countries and delegations of senior officials, business owners, companies, and heads of unions and chambers.


During the two-day sessions, the forum discussed the prospects for the development of Russian-Arab relations and ways to promote cooperation in a number of fields, including finance, investment, information systems, digital economy, the agricultural sector, food security, medicine and pharmaceutical industry, as well as the logistics and services sector.


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