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Deputy Prime Minister Alexander Novak held a number of bilateral meetings on developing business relations between Russia and Saudi Arabia, in part, with Saudi Crown Prince Mohammed bin Salman Al Saud and made a speech at the Middle East Green Initiative international conference.

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Alexander Novak’s working visit to the Kingdom of Saudi Arabia

Deputy Prime Minister of the Russian Federation Alexander Novak traveled to the Kingdom of Saudi Arabia on a working visit.

Mr Novak held a number of meetings on developing bilateral energy and business cooperation in the world market.

Increasing bilateral trade remains a constant priority for both countries, and it continues growing despite the impact of certain factors, said Mr Novak during his talks with Co-Chair of the Russian-Saudi Inter-Governmental Commission on Trade, Economic, Scientific and Technical Cooperation Abdulaziz bin Salman Al Saud. “Last year, it grew by 0.17 percent as compared with 2019 to reach $ 1.7 billion. In January-September of 2021 it increased by another 20 percent, ”he said.

The participants of the bilateral meeting discussed the seventh session of the commission as well as current and future activities of its working groups. Mr Novak noted the significant prospects of large and small-scale nuclear power on Saudi territory, cooperation in developing the chemical industry and supplies of Russian meat products to Saudi Arabia, including Halal certified products. In addition, the participants discussed global energy trends related to climate change, including the reduction in carbon emissions during the production and transportation of hydrocarbons, greater use of renewable energy sources and the development of hydrogen energy.

“It is important to develop cooperation in using renewable energy sources and hydrogen energy. Our countries bear special responsibility to the international community on the climate track. We believe as major energy powers, Russia and Saudi Arabia must carefully address decarbonisation issues and prevent the forced “greening” of the international agenda to the detriment of the sustainability of domestic energy sectors, ”Mr Novak emphasized.

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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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