Russian-Saudi Business Forum opens in Riyadh

The opening of the Russian-Saudi Investment and Business Forum took place in the capital of the Kingdom of Saudi Arabia. The event is taking place on the sidelines of the 9th meeting of the Joint Intergovernmental Russian-Saudi Commission on Trade, Economic, Scientific and Technical Cooperation.

Saudi Arabia's Energy Minister Prince Abdelaziz bin Salman Al Saud welcomed the meeting, stressing that the Russian-Saudi partnership, which began ten years ago, has become a pillar of mutual trust and continues to develop successfully even in the face of global uncertainty, including through concrete solutions in the energy, logistics and digital transformation sectors.

The Forum is aimed at deepening bilateral cooperation between the Russian Federation and the Kingdom of Saudi Arabia in key economic sectors. The participants will discuss the prospects for the development of trade and investment ties, industrial cooperation, agriculture and food security, transport and logistics, tourism, digital technologies and other strategic areas.

Alexander Novak, Deputy Prime Minister of the Russian Federation: "The Russian-Saudi partnership is entering a phase of qualitative growth. Recently, we have jointly implemented a number of significant initiatives, from launching direct flights to signing agreements in the field of industrial cooperation, energy and education. Today, our goal is to take this interaction to a strategic level: to create joint production and technological chains that will work for the long–term economic stability of both countries."

The Russian side of the Forum is co-organized by the Roscongress Foundation, the Russian-Saudi and Russian-Arab Business Councils with the support of the Government of the Russian Federation and the Ministry of Economic Development of the Russian Federation. The event brought together representatives of government authorities, development institutions and leading companies from the two countries.

The Kingdom of Saudi Arabia will become a guest country at the St. Petersburg International Economic Forum 2026, which will be held from June 3-6 in St. Petersburg.