An online meeting was held between Maxim Reshetnikov, Head of the Ministry of Economic Development of the Russian Federation, and Khalid Al-Falih, Head of the Ministry of Investment of Saudi Arabia.

During the conversation the ministers discussed the directions of investment cooperation development between the two countries.

Reshetnikov called Saudi Arabia one of the key trade and investment partners of Russia and noted that in spite of the pandemic, the trade turnover between the two states increased by almost a quarter for the first six months of this year. Russian Minister expressed hope that in future it would be possible not only to maintain but also to increase such growth rate.

In addition, the minister said that Moscow and Riyadh have a high potential for cooperation in the investment field, where several common projects are already being implemented.

The ministers agreed to intensify work on the conclusion of a bilateral agreement on the promotion and mutual protection of investments. They also decided to prepare a joint review of Russian investment projects that have been implemented in Saudi Arabia, and vice versa.

Made in Russia // Made in Russia

Author: Ksenia Gustova