Saudi Arabia’s Energy minister discusses trade and economic cooperation with his Russian Counterpart in Moscow

Saudi Arabia’s Energy minister discusses trade and economic cooperation with his Russian Counterpart in Moscow
Saudi Arabia’s Energy minister discusses trade and economic cooperation with his Russian Counterpart in Moscow

The sixth meeting of the Saudi-Russian Joint Committee on Trade, Economic and Scientific Cooperation was held in Moscow today under co-chairmanship of Saudi Minister of Energy, Industry and Mineral Resources Eng. Khalid bin Abdulaziz Al-Falih and Russian Energy Minister Alexander Novak.

During themeeting, they discussed the main issues of trade and economic cooperationbetween the Kingdom and Russia, including improving the regulatory framework,enhancing economic and investment cooperation, joint projects in the fields ofenergy, industry and agriculture, in addition to following up theimplementation of the projects agreed upon at the previous meetings of theJoint Committee.

MinisterEng. Al-Falih said that both Russian national projects and the Kingdom's Vision2030 represent new motives, strong momentum and wider dimensions of jointefforts due to the similarity and integration potentials between the two plansin terms of aspiration to realize the ambitions of both countries and theirpeoples to reach high and unprecedented levels of achievement, progress,prosperity and sustainability.

He alsoaffirmed the readiness of the Saudi side of the joint committee and thereadiness of the leadership and government of the Kingdom of Saudi Arabia toenhance and raise levels of cooperation between the two countries to achievethe objectives of the ambitious future plans.

It is worthmentioning that the fifth meeting of the joint Saudi-Russian committee was heldin Riyadh in November 2017. The bilateral relations between the two countriesare witnessing remarkable developments in various fields through mutualmeetings and visits between officials to serve the common interests, especiallysince the visit of Custodian of the Two Holy Mosques King Salman bin AbdulazizAl Saud to Russia in October 2017, where the cooperation and integrationbetween the two countries covered many areas of common importance, includingenergy, direct investment, petrochemical industry, culture, education,training, tourism development promotion between the two countries, agriculture,food security, health, transportation, military industries, communications andinformation technology, Hajj and Umrah affairs, and others.

On the other hand, the Minister of Energy, Industry and Mineral Resources, Eng. Khalid bin Abdulaziz Al-Falih, headed the Kingdom's delegation to the Petersburg International Economic Forum in Russia. He also participated in a key session of the forum entitled "Energy Sector: Challenges and Opportunities", where he talked about the global oil market and the role of OPEC to maintain market stability, and increase its influence with the cooperation of its partners from the OPEC + Group.

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