RIYADH, SAUDI ARABIA – The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.
The meeting stressed the importance of commercial relations between Saudi Arabia and Russia.
Businesses can benefit from investment opportunities and partnerships in 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.
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.
He referred to the significance of benefiting from available opportunities through holding joint ventures.
Commercial representative at the Russian Embassy said that the two countries’ commercial ties have witnessed remarkable development over the past few years.
The representative said 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.