Riyadh: Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy of the Kingdom of Saudi Arabia, and Alexander Novak, Deputy Prime Minister of the Russian Federation, inaugurated the Saudi-Russian Investment and Business Forum in Riyadh, alongside Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs of Saudi Arabia. The forum, organized by the ministries of energy and investment from both countries, saw participation from senior officials and investors and led to the signing of three significant agreements.
According to Bahrain News Agency, the agreements signed during the forum aim to enhance the strategic partnership between Saudi Arabia and Russia. These include a memorandum of understanding focused on climate change and low-emissions development. This agreement establishes a framework for cooperation in tackling climate change, exploring opportunities for reducing and removing greenhouse-gas emissions, and improving energy efficiency, aligning with the UN Framework Convention and the Paris Agreement.
Additionally, the forum facilitated the signing of a mutual visa-waiver agreement for holders of ordinary passports between the two nations. This agreement seeks to ease the movement of citizens and strengthen both people-to-people and commercial communication. A cooperation agreement was also executed between the King Abdulaziz Foundation for Research and Archives and the Federal Archival Agency of the Russian Federation, which covers the exchange of information and expertise, the organization of joint exhibitions and seminars, and the exchange of visits and publications.
The forum and these agreements underscore the commitment of Saudi Arabia and Russia to deepen economic, investment, and cultural cooperation, opening broader prospects for strategic partnership in various domains.