Alexander Novak took part in the Russian-Saudi Investment Business Forum held as part of the 9th Meeting of the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation
Alexander Novak, Co-chair of the Russian-Saudi Intergovernmental Commission, Minister of Energy of Saudi Arabia Prince Abdelaziz bin Salman Al Saud, and Foreign Minister of Saudi Arabia Faisal bin Farhan Al Saud during the signing of bilateral documents
Alexander Novak and Co-chair of the Joint Russian-Saudi Intergovernmental Commission and Minister of Energy of Saudi Arabia Prince Abdelaziz bin Salman Al Saud during a tour of the exhibition sponsored by Russian and Saudi companies
Alexander Novak and Co-chair of the Joint Russian-Saudi Intergovernmental Commission and Minister of Energy of Saudi Arabia Prince Abdelaziz bin Salman Al Saud during a tour of the exhibition sponsored by Russian and Saudi companies
Alexander Novak took part in the Russian-Saudi Investment Business Forum held as part of the 9th Meeting of the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation
Deputy Prime Minister of Russia Alexander Novak took part in the Russian-Saudi Investment Business Forum held as part of the 9th Meeting of the Joint Russian-Saudi Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation.
Forum participants discussed specific opportunities for implementing joint projects and strengthening the strategic partnership between Russia and the Kingdom of Saudi Arabia in various areas.
“Our openness and readiness to foster collaboration are confirmed by the representative composition of the Russian delegation. It includes representatives of both major and small companies, innovation startups, as well as businesses that already operate here and have a good track record, and entrepreneurs who are just planning to come to Saudi Arabia’s market. The forum concerns the key tracks of our cooperation: information and digital technologies, agricultural industry and food security, industry and urban environment,” Alexander Novak said.
He noted that bilateral trade was growing as was investment cooperation.
Russia remains a reliable agricultural and food supplier to the kingdom. The amount of supplies has increased 150 percent in physical terms over the past five years.
Hi-tech cooperation makes strides as well: digital solutions for smart cities, physical and cyber security, e-services, construction and the urban economy. There is a great potential for extending this cooperation to the use of AI in healthcare, education, geoanalytics, mineral production, and the energy sector.
Russian companies are ready to offer their products, technologies and solutions for the manufacture of oil and gas equipment, iron-and-steel industry, chemical industry, pharmaceutical industry, and industries producing medical equipment.
The two countries continue to cooperate in tourism. Over the past year alone, the number of reciprocal tourist travels increased by 200 percent. Ties are being established in the cultural, sports, scientific and educational areas.
“Today’s forum confirms the strategic nature of Russian-Saudi partnership. We hope that the activity of our countries’ business circles will remain an important factor in strengthening Russian-Saudi cooperation. The Intergovernmental Commission and the Government of the Russian Federation intend to render all necessary assistance to entrepreneurs from Russia and Saudi Arabia in implementing joint projects,” Alexander Novak said.
During the forum, Alexander Novak and Saudi Foreign Minister Faisal bin Farhan Al Saud signed a number of bilateral documents in the presence of Co-chair of the Russian-Saudi Intergovernmental Commission, Minister of Energy of Saudi Arabia Prince Abdelaziz bin Salman Al Saud: an intergovernmental agreement on reciprocal elimination of visa requirements for holders of all types of passports, a memorandum of understanding on climate change and low-carbon development, and a memorandum on cooperation in the archive area.
The Deputy Prime Minister of Russia and the Saudi Minister of Energy toured an exhibition sponsored by Russian and Saudi companies.
