Saudi, Russian Industry Ministers Discuss Enhancing Cooperation, Encouraging Investments

Saudi, Russian Industry Ministers Discuss Enhancing Cooperation, Encouraging Investments

2024-02-06

Riyadh, SPA: Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef held a meeting today with Russia’s Minister of Industry and Trade Denis Manturov, on the sidelines of the World Defense Show (WDS) 2024 in Riyadh.
The discussions focused on exploring means to enhance cooperation between Saudi Arabia and Russia in order to develop the industry and mining sectors. They also discussed investment prospects in the Kingdom and ways to promote investments in both countries.
The Vice Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil bin Ibrahim bin Salamah, was present at the meeting.
Between January and October 2023, Saudi Arabia’s exports to Russia reached a total of SAR 55.99 million.
The Kingdom’s notable exports to Russia included packaging, cars, chemicals and polymers, food products, heavy machinery, and electronics. Meanwhile, the Kingdom’s imports from Russia are comprised of food products, building materials, heavy machinery, electronics, as well as chemicals and polymers.