Money and business
The Minister of Industry discusses strengthening economic relations with Warsia in several areas
The Minister of Industry and Mineral Resources, Bandar Al -Khar, discusses, at the head of a high -level Saudi delegation, on an official visit to the Russian Federation during the period from 7 to 10 July 2025, to strengthen bilateral economic ties between the two countries, and to explore mutual opportunities in a number of vital sectors, foremost of which are industry, mining, aviation and advanced manufacturing technologies. The targets of the Kingdom’s Vision 2030.
International Industry Exhibition will open the minister during the visit the Saudi pavilion participating in the International Industry Exhibition & RLM;"2025 Innoprom"Which is held in a city "Yakatrinburg" Russian. It is witnessing an accelerated progress driven by the Kingdom’s 2030 vision. Including the Minister of Industry and Trade Anton Alejhanov, Minister of Natural Resources and Environment Alexander Coslaov, General Director of the Export Center and Vironica Nixina. Industrial and minerals, and encouraging trade exchange between the two countries. Corporation, Republic of Tatarstan, Chelyabinsk Region, and Khimprom, to discuss cooperation opportunities in the sectors of petrochemical, auto industry, and advanced manufacturing, which are essential pillars in the national industry strategy. The Federation in 2017 AD, President Vladimir Putin met, and 10 strategic agreements were signed that included oil, defense, industry and military cooperation, followed by the visit of President Vladimir Putin to the Kingdom in 2019, and 20 additional agreements were signed in several different sectors, which included energy, investment, mining, aviation, tourism and technology. The volume of non -oil trade exchange between the two countries, and rose from (1.84) billion riyals in 2016 to (12.3) billion riyals in 2024 with a development in joint cooperation in the sectors of industry, mining, petrochemicals and advanced manufacturing. To develop cooperation with its Russian counterparts in a wide range of strategic sectors, including mining, machinery and equipment, manufacturing, food industries, medicines, and medical devices. (15.45%) During the next decade, in addition to the global leadership of Russia in the field of mining and mineral production; This provides promising opportunities to enhance cooperation in the two sectors, and develop joint investments, especially with the industrial and mining shift in the Kingdom. The two sides are opportunities for green mining, metal processing, and the integration of supply chains, with common ambitions to face global challenges in the mining sector. On the establishment of many Russian companies for their presence in the Kingdom in several areas that include plastic, petrochemical and industrial industries. The two countries are preparing to celebrate the centenary of Saudi -Russian relations next year with initiatives that enhance ties between the two peoples. Official to the Russian Federation, an important step to enhance the strategic economic partnership between the two countries, and to expand the horizons of bilateral cooperation in several promising sectors; Including industry, mining and advanced manufacturing technologies, in support of the sustainable economic growth of both countries. - For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
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