The sixth meeting of the Saudi-Russian Joint Committee for Trade, Economic and Scientific Cooperation reflected a genuine mutual desire between both countries to develop cooperation in various fields and move towards strategic cooperation in trade and economic fields.
On Monday, Moscow hosted a meeting of the Russian-Saudi intergovernmental commission on Trade, Economic and Scientific Cooperation under the joint auspices of Saudi Minister of Energy, Industry and Mineral Resources Khalid al-Falih and his Russian counterpart Alexander Novak.
In his address, Novak confirmed Russia’s plans to develop an active partnership with Saudi Arabia in the peaceful use of nuclear technologies and announced the opening of a Rusatom Overseas branch in Riyadh.
He described the opening of the Russian company’s branch in Riyadh as “a significant step in Russian-Saudi relations in the field of nuclear energy.”
Novak noted that Rosatom’s presence in the country will ensure efficient interaction with Saudi state bodies and private-owned companies within the competitive dialogue for Kingdom’s first nuclear power plant project.
In a related context, in light of the diverse and multiple fields of trade-economic cooperation between the two countries, the Russian Energy Minister announced the establishment of trade representation offices between the two countries.
He stressed that the volume of trade exchange between the two countries has been growing continuously, and doubled in the first quarter of this year compared to the same period of 2018, which rose to $420.4 million.
Agricultural cooperation between the two countries has been also developing trade exchange in this field significantly increased over the past three years, reaching $500 million in 2018.
President of Rusatom Overseas Evgeny Pakermanov announced that they are working with the Saudi side on a broad agenda that includes not only participation in the competitive procedure for large-capacity NPP construction project, but also an entire array of other promising areas.
Rusatom Overseas, which is a subsidiary of state-owned nuclear corporation Rosatom, is opening a branch in Riyadh.
“We are discussing cooperation in building small and medium-sized reactors, fuel cycle, training of personnel for Saudi Arabia’s national nuclear program and development of its nuclear infrastructure,” asserted Pakermanov.
Russia is currently competing with other countries to win a contract to build an atomic power plant in Saudi Arabia, however, it hopes for broader and long-term cooperation between the two countries in this field and to have a share in energy projects in the Kingdom.
.png?w=600)
