Russian and Saudi Industry Ministers Explore Collaboration and Investment Prospects

Russian Deputy Prime Minister and Minister of Industry and Trade, Denis Manturov, held discussions with Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, during the World Defense Show 2024 in Riyadh. The meeting focused on fostering cooperation and the potential for joint investment initiatives.

The talks primarily revolved around enhancing collaboration in the mining sector. Both nations expressed their commitment to exploring opportunities for joint ventures and investment projects. This meeting underlines the growing interest in strengthening economic ties between Russia and Saudi Arabia.

It's worth noting that Saudi Arabia's exports to Russia during January to October 2023 amounted to 55.99 million Saudi riyals ($14.93 million), indicating a foundation for economic engagement between the two countries. As discussions progress and joint projects materialize, this collaboration could lead to significant developments in their respective industries and economies.