Saudi Arabia, Russia sign 13 agreements worth SR4.8 billion

MOSCOW: Saudi Arabia and Russia signed 13 strategic agreements with investments amounting to SR4.8 billion with the aim of expanding cooperation and enhancing trade and investment exchanges between the two countries.

On the sidelines of the St. Petersburg International Economic Forum — which the Kingdom attended as the guest of honor — the signings were witnessed by the Vice Minister of Environment, Water, and Agriculture Mansour Al-Mushaiti.

Al-Mushaiti said the Ministry of Environment, Water, and Agriculture worked to attract leading Russian companies specializing in vital and food-related sectors.

The forum witnessed the signing of a package of agreements and partnerships between government entities and major private-sector companies from both countries, supporting the Kingdom’s efforts to strengthen food security, localize advanced biotechnology, and ensure the sustainability of supply chains.

He explained that the agreements covered several key sectors, including the manufacturing and localization of veterinary vaccines to enhance animal health and biosecurity, the development and breeding of broiler poultry strains to support self-sufficiency and sustainable local production, and securing feed inputs and supply chains to ensure the stability and growth of the livestock sector.

The agreements also include strategic partnerships to export Saudi seafood products, such as shrimp and fish, through Russian companies specializing in imports and global distribution.

Al-Mushaiti added that the forum also saw the signing of agreements to market and export camel milk products and derivatives to Russian and international markets, an agreement to promote and export Saudi coffee products, and a cooperation agreement in the soft drinks sector.

He stressed that the Kingdom’s participation in the forum underscores the importance of the strategic partnership between Saudi Arabia and Russia.