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23 Russian companies discuss investment opportunities with Saudi business sector

Wednesday 05 October 2022

A joint meeting between the Saudi and Russian business sector, which was held yesterday at the Riyadh Chamber with the participation of 23 Russian companies working in several economic sectors, stressed the importance of commercial relations between the two countries, benefiting from investment opportunities and holding commercial partnerships between the two sides to serve joint interests, praising the advanced level of relations that receive considerable concern by the leaderships of the two countries.
Minister Plenipotentiary at the Russian embassy in Riyadh Alexander Istomen said that Russian-Saudi relations are strong and have continued to witness continuous rapprochement.
He said that the meeting between the Russian and Saudi business sectors will expand economic cooperation fields, calling for benefiting from the available investment opportunities between the two countries.
For his part, Head of the Saud-Russian Business Council Tareq Al-Qahtani highlighted the important role of the council in strengthening commercial ties between the two countries, referring to the significance of benefiting from available opportunities through holding joint ventures.
For his part, commercial representative at the Russian Embassy said that the two countries’ commercial ties have witnessed remarkable development over the past few years, noting that the commercial exchange volume in 2021 witnessed an increase to US$1.7 billion, expressing his country’s aspiration to reach a commercial exchange volume of US$5 billion by the end of 2024.
The event witnessed holding bilateral meetings between businesspeople and representatives of the Russian companies.