Saudi-Russia ties to be boosted by expanding trade, investment cooperation

The Joint Saudi-Russian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation agreed to continuing work on expanding trade, economic, industrial and investment cooperation between the two countries; within the framework of bilateral cooperation formats.

The Co-Chairs Minister of Energy Prince Abdulaziz Bin Salman and Deputy Prime Minister of the Russian Federation Alexander Novak; met on Saturday in Riyadh.

During the meeting; the co-chairs exchanged views on the Saudi-Russian cooperation in different fields; and highlighted the role of the Commission as an important forum for elevating bilateral relations.

They also welcomed the outcomes of the visit of Russian President Vladimir Putin’s visit to Riyadh on October, 2019; and the discussions that took place with Custodian of the Two Holy Mosques, King Salman.

The co-chairs also reviewed the current progress of the 6th Session of the Commission; which was hosted in Moscow, June 20, 2019; and discussed the preparation for the 7th Session of the Commission.

Generally; the co- chairs agreed on the following points:

Assuring the importance of the Saudi-Russian High-Level Strategic Framework that was also signed on Oct. 14, 2019 in Riyadh aligning the national strategies of the two countries.

Continuing work on expanding trade, economic, industrial and investment cooperation between the two countries; within the framework of bilateral cooperation formats.

Reiterating their commitment to the Charter of Cooperation between Oil Producing Countries, markedly signed by the Saudi Energy Minister and the Russian Energy Minister; in the presence of the Saudi and Russian heads of state on Oct. 14, 2019.