More than 270 Russian companies participated in INNOPROM. Saudi Arabia"

The International Industrial Exhibition INNOPROM. Saudi Arabia has completed its work in Riyadh. It took place from February 8-10 at The Arena. The exhibition area was 6,000 sq. m. Over three days, the event was attended by more than 5,000 people.

The exhibition was attended by representatives of government authorities and subordinate institutions, businesses, unions, associations and chambers. The total number of Russian companies is more than 270, and over 650 companies and organizations are represented by Saudi Arabia. The event was supported by the Ministry of Industry and Trade of the Russian Federation, the Ministry of Investment of the Kingdom of Saudi Arabia and the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia. The organizer was the Formica Event company.

The key event of the exhibition was the main plenary session "Russian-Saudi Cooperation: Drivers of industrial and Investment development." The participants were Anton Alikhanov, Minister of Industry and Trade of the Russian Federation, Bandar al-Khureif, Minister of Industry and Mineral Resources of Saudi Arabia, Abdullah Al-Dubaihi, Deputy Minister of Investment of the Kingdom of Saudi Arabia, Gohar Barseghyan, Member of the Board (Minister) for Industry and Agro-Industrial Complex of the EEC, Rustam Minnikhanov, Head of the Republic of Tatarstan, Alexey Russky, Governor of the Ulyanovsk Region. Veronika Nikishina, CEO of the Russian Export Center, and Alexey Repik, Chairman of Delovaya Rossiya.

The panelists discussed the importance of bilateral cooperation between Russia and Saudi Arabia, emphasizing the high level of mutual trade, as well as promising areas for joint work in key industrial sectors.

"We hope that by the end of 2025, the mutual trade turnover will exceed $ 4 billion. The basis of trade turnover between the two countries is raw materials, materials, and agriculture. However, we see promising cooperation in electric transport. Russian manufacturers are steadily increasing their competencies here," said Anton Alikhanov, Minister of Industry and Trade of Russia.

Saudi Arabia's Minister of Industry and Mineral Resources Bandar al-Khureif, in turn, said that the Kingdom is looking with interest at what Russia has achieved in various fields, while identifying the most important areas for cooperation.

"One of the most priority areas of partnership between our countries is industrial cooperation. Saudi Arabia is determined to continue implementing its national program to localize various types of production and strengthen supply chains," Bandar al-Khureif said.

The heads of the delegations also took part in an official tour of the Russian-Saudi exposition, examining technological developments at the stands of Rostec, Rosatom, CRPT, REC, the Republic of Tatarstan, the Government of Moscow, the Government of St. Petersburg, the Krasnodar Territory, as well as projects at the collective stands of Saudi Made and Invest Saudi.

In addition, a number of agreements were signed at the event between organizations from Russia and Saudi Arabia, including a cooperation agreement between the investment and venture fund of the Republic of Tatarstan and Tadaamun Investment L.L.C., an agreement between the Saudi industrial and investment holding Alfaddaghi Holding and a number of leading technology companies from Moscow and others.

On the final day of the exhibition, Khalil bin Ibrahim bin Salam, First Deputy Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, met with Russian business leaders. The meeting was devoted to the investment, trade and industrial potential in the Saudi Arabian market. He noted that the Kingdom is actively developing its industrial infrastructure and plans to open a large number of new production facilities.

The next foreign INNOPROM will be held in Uzbekistan from April 20 to 22.