Economy

Saudi Arabia and Russia Move to the Second Phase of Cooperation Roadmap

Saudi Arabia and Russia Move to the Second Phase of Cooperation Roadmap

The Saudi-Russian Joint Committee agreed today (Tuesday) on the second phase of the roadmap for economic, scientific, and technical cooperation between them. This took place during the seventh session of the committee via video conferencing, chaired by Prince Abdulaziz bin Salman bin Abdulaziz, the Saudi Minister of Energy, and Alexander Novak, Deputy Prime Minister of the Russian Federation.

The committee highlighted the significance of the two historic visits by King Salman bin Abdulaziz to Moscow in October 2017 and Russian President Vladimir Putin's visit to Riyadh in October 2019, as well as the discussions held between the leaders during those visits.

Prince Abdulaziz bin Salman affirmed that the joint committee's work receives continuous monitoring and sustained support from Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Deputy Prime Minister, and Minister of Defense. He noted that the regular meetings of the committee signal a serious desire from both Saudi Arabia and Russia to achieve greater cooperation, proving that the partnership between the two countries is now stronger than ever.

The two parties agreed on the second phase of the roadmap (action plan) to implement the high-level strategic cooperation framework between Saudi Arabia and Russia, signed in Riyadh on October 14, 2019. They also agreed on nearly 60 areas of cooperation, establishing 51 opportunities and projects on the roadmap, which tripled the number of new projects during this phase, extending to 2023.

The committee focused its discussions on eleven sectors: energy, economy and investment, information and communication technologies, industry, health, education and science, space, media, culture and tourism, transportation, geoscience and natural resources, and agriculture.

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