The Russian-Saudi inter-government commission on trade and economic cooperation

Friday, January 27, 2023

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The Russian-Saudi inter-government commission on trade and economic cooperation, which concluded its meeting in Riyadh yesterday, decided to intensify cooperation, above all in the oil and gas industry, the peaceful exploration of outer space, and in the scientific and technological sphere in general. Specific decisions were set out in a memorandum of the intentions members of Rosaviakosmos, Russia's aerospace agency, and of Saudi Arabia's King Abdel Aziz Science and Technology Center exchanged, Andrei Baklanov, the Russian ambassador to Saudi Arabia, said on the telephone. The members of the commission agreed to create, with time, a Russian-Saudi bank to facilitate mutual trade and promote economic cooperation. Baklanov said opening a direct air service between Moscow and Riyadh was also discussed in that context. A forum of the two countries' businessmen and experts took place in Riyadh simultaneously with the commission's meeting. Around 50 Russian business leaders took part in the forum. Women attended the forum for the first time in the history of Russian-Saudi business meetings. "Contacts between Russian and Saudi business ladies proved very successful. They discussed issues of cooperation in the banking and insurance sectors, medicine, the perfume, and confectionary industries," said the ambassador. The commission will gather for its third meeting in Moscow in two months, report Saudi newspapers.

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