The Saudi side of the Saudi-Russian Business Council at the Council of Saudi Chambers held a meeting, led by co-chair Abdulaziz Al Keraidis, to discuss a number of issues pertaining to fostering bilateral trade and investment relations between the business communities in the two countries.

The meeting reviewed results of the recent visit by Chairperson of the Federation Council of the Federal Assembly of the Russian Federation, Valentina Matvienko, to Saudi Arabia, in which she discussed with her Saudi counterpart the possibility to open an economic representation office in both Moscow and Riyadh to support economic and investment activities between the two countries. 

The two sides addressed topics including the importance of exploring available and promising opportunities in both countries, increasing cooperation between Saudi and Russian companies, opening investment markets, and facilitating obstacles that face investors in both countries.

The meeting discussed forming team works that specialize in specific fields each, including: healthcare – manufacturing, energy, and mining – agriculture and food industries – trade – military industries and security services – banking and financial relations – SMEs. It also touched on preparing a guideline for the Saudi-Russian Business Council, concerning its vision, mission, goals, events program, bilateral trade relations, and top imports and exports in the two countries.

The meeting stressed on the importance of intensifying efforts on both sides and increasing delegation exchanges between the two countries to further foster their economic relations and elevate these relations to a strategic partnership.

Source: CSC