- Saudi Arabia and Russia will finalize energy agreements at the Nov 6 Riyadh meeting.
- The joint committee is enhancing cooperation in trade, technology, and tourism.
- Bilateral trade grew 60% in 2024, surpassing $3.8 billion.
Saudi Arabia is arranging a series of energy agreements to be finalized during the forthcoming meeting of the Saudi-Russian Joint Governmental Committee, scheduled to take place in Riyadh in November.
The joint committee, formed in 2002, facilitates collaboration in trade, economics, science and technology, alongside industry, space, information technology, communications, urban planning, finance, banking, and transportation.
The Energy Ministry of Saudi Arabia has directed private sector firms to present all finalized agreements before the meeting, according to the sources.
Energy Minister Prince Abdulaziz bin Salman will preside over the session representing Saudi Arabia, while Russian Deputy Prime Minister Alexander Novak will head Moscow's delegation. In late July, Novak held discussions with Prince Abdulaziz in Riyadh regarding bilateral cooperation.
The meeting led to direct flights established between the two nations and the signing of memoranda of understanding in areas such as industry, education, media, and religious tourism.
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The ninth meeting of the Saudi-Russian Joint Committee is planned for November 6 in Riyadh. Saudi authorities indicate that increased collaboration has enhanced bilateral trade, surpassing $3.8 billion in 2024, a rise of over 60% compared to the previous year, with acceleration beginning at the start of this year.
Officials from both countries state that Saudi-Russian relations have a history of ninety years, characterized by aligned interests and mutual perspectives. The alliance has grown to leverage the extensive capabilities of both economies, with officials in Riyadh and Moscow eager to enhance cooperation in various fields.
The final meeting of the committee, conducted in Moscow, gathered representatives from various government departments. Conversations centered on energy, trade, investment, information technology, healthcare, education, media, culture, sports, tourism, transportation, natural resources, agriculture, and other significant fields of collaboration.