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Saudi Press Agency

HRH Crown Prince and Russian President Co-Chair 1st Meeting of the Saudi-Russian Economic Committee

Saudi Press Agency

Monday 1441/2/15 - 2019/10/14

Riyadh, Oct. 14, 2019, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Deputy Prime Minister and Minister of Defense, and President Vladimir Putin of the Russian Federation co-chaired here today the 1st meeting of the Saudi-Russian Economic Committee, in the presence of the delegations of the two countries.

At the outset of the meeting, HRH Crown Prince delivered a speech in which he stressed the importance of continuing the cooperation and building the strategic partnership between the two friendly countries, discussing many available opportunities and developing them in addition to more joint investment and production projects in line with the Kingdom Vision 2030.

For his part, President Putin pointed out that the major participating Saudi-Russian companies are playing a major role in the economy between Russia and the Kingdom of Saudi Arabia, praising the successful cooperation between the Russian Direct Investment Fund and the Public Investment Fund of Saudi Arabia.

The President of the Russian Federation drew attention to the role His Royal Highness the Crown Prince has played in establishing this partnership, adding that "starting from the Kingdom Vision 2030, we hope that the Russian businessmen would benefit from this vision.

For his part, Prince Abdullah bin Bandar bin Abdulaziz, Minister of National guard and Chairman of the Saudi side of the Saudi-Russian Economic Committee, delivered a speech in which he affirmed the Saudi side's readiness to achieve the aims of future plans and joint ventures, lauding the Russian Direct Investment Fund's opening its branch in Riyadh, the first ever outside Russia.

Reciprocally, CEO of the Russian Direct Investment Fund Kirill Dmitriev, who is also Chairman of the Russian side of the Saudi-Russian Economic Committee, delivered a speech in which he lauded the Saudi-Russian cooperation and the keenness of both countries to develop and strengthen economic partnership between the two countries.

Then, the heads of the Saudi and Russian companies delivered speeches in which they highlighted fields of cooperation and joint opportunities to consolidate bilateral cooperation.

In conclusion, Prince Abdullah bin Bandar bin Abdulaziz and Kirill Dmitriev co-signed the minutes of the meeting.

21:01 LOCAL TIME 18:01 GMT

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