Saudi private sector calls for reviving Arab-Russian economic relations

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Representatives of the Saudi private sector have called for establishing a roadmap to strengthen economic relations with Russia.

The call followed statements by the Chairman of the Council of Saudi Chambers of Commerce, Ajlan Al-Ajlan, in which he stressed the need to adopt the necessary measures to boost bilateral business councils, increase the benefit of government support and activate cooperation in the field of small and medium-sized enterprises. companies.

During his participation in a seminar on the “prospects for the development of Russian-Arab relations in the new world reality”, within the framework of the activities of the Arab-Russian Business Council held at Expo Dubai 2020, Al-Ajlan said stressed the role of the Council as an important platform for strengthening economic ties between the two sides.

In this regard, the President of the Federation of Saudi Chambers of Commerce stressed the need to overcome financial and banking obstacles, to motivate Russian banks to open branches in the Kingdom and to accelerate the signing of an agreement of customs exemption.

He also called for establishing a direct sea and air route between the two countries to facilitate import and export operations and standardizing specifications to enable the flow of trade.

The activities of the Economic Forum of the Arab-Russian Business Council took place under the title: “Russia and the Arab World: New Opportunities in the New Reality”, with the participation of representatives of 16 Arab countries and delegations of high civil servants, business owners, businesses and leaders of unions and chambers.

During the two-day sessions, the forum discussed prospects for the development of Russian-Arab relations and ways to promote cooperation in a number of areas, including finance, investment, information systems, l digital economy, the agricultural sector, food security, medicine. and the pharmaceutical industry, as well as the logistics and service sector.


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