2002 News Story

Kingdom expands economic and commercial cooperation with Russia

Saudi Arabia has been holding talks with the Russian Federation on the stability of the global oil market, and the first meeting of the Saudi-Russian Joint Commission is scheduled for Moscow this October to explore the prospects of expanding economic and commercial cooperation between the two countries. Businessmen from both countries will meet on the sidelines of the Commission's meeting to explore prospects of promoting economic and commercial relations and serve as a nucleus for setting up a Saudi-Russian Business Council. Currently, Saudi-Russian trade exchange amounts to SR 525 million (U.S. $140 million), and has been increasing each year.