Saudi Arabia and Russia have bolstered trade and investment cooperation with 13 strategic deals worth SAR 4.8 billion ($1.28 billion), reported the Saudi Press Agency (SPA).
On the sidelines of the St. Petersburg International Economic Forum (SPIEF), Saudi Vice Minister of Environment, Water and Agriculture Mansour Al-Mushaiti oversaw the signing of 13 strategic agreements and memoranda of understanding (MoUs) with Russia.
The agreements aim to broaden cooperation and deepen economic and investment ties between the Kingdom and Russia, particularly in food security, biotechnology, livestock production and supply-chain resilience, in line with the objectives of Saudi Vision 2030.
In light of this, Al-Mushaiti highlighted the efforts of the Saudi Environment Ministry to attract prominent Russian companies specialized in the vital and food sectors.
He added that the SPIEF – in which Saudi Arabia participated as a guest of honor – saw the signing of several key agreements and partnerships between government entities and major private-sector companies from both countries.
The new agreements span several strategic sectors, including the localization of the manufacturing of veterinary vaccines to safeguard animal health and biosecurity, alongside developing broiler breeds to boost domestic self-sufficiency.
Additionally, the deals aim to secure feed inputs and stabilize livestock supply chains, while expanding the export of Saudi fish and shrimp products through partnerships with Russian global distribution firms.
Furthermore, the forum witnessed the signing of agreements to market and export camel milk products and derivatives to Russian and global markets, an agreement to distribute and export Saudi coffee, as well as a cooperation and exchange agreement in the soft drinks sector.
Al-Mushaiti emphasized that Saudi Arabia’s participation in the SPIEF underscores the significance of the Saudi-Russian strategic partnership and offers an opportunity for exchanging expertise and exploring investment prospects across the environmental, water, and agricultural sectors.
