Russia and Saudi Arabia have agreed to explore the expansion of the roadmap for trade, economic, scientific and technical cooperation by the end of 2019, according to the protocol signed at the meeting of the joint intergovernmental commission and obtained by Sputnik
MOSCOW (Pakistan Point News / Sputnik - 15th July, 2019) Russia and Saudi Arabia have agreed to explore the expansion of the roadmap for trade, economic, scientific and technical cooperation by the end of 2019, according to the protocol signed at the meeting of the joint intergovernmental commission and obtained by Sputnik."The sides reviewed the implementation of the roadmap for trade, economic, scientific and technical cooperation between the Russia and Saudi Arabia for the medium term, signed on October 5, 2017 in Moscow, and agreed to consider expanding this roadmap by the end of 2019," the protocol said.
The sides, in particular, noted that plans to cooperate on the Saudi Vision 2030 program and the Russian national projects provided strategically important opportunities.
"The sides reviewed the current status of trade relations between Russia and Saudi Arabia. Although in 2019 there was a significant increase [in trade], the sides noted a huge undiscovered potential between the countries. The sides confirmed their readiness to contribute to the further growth and diversification of trade and to remove structural barriers in trade," the document said.
Moscow and Riyadh agreed to encourage the participation of Russian and Saudi representatives and organizations in international exhibitions and conferences in both states. In addition, the sides will encourage the exchange of official delegation visits, sending representatives of chambers of commerce and business communities. The sides also decided to exchange experience and information regarding their legislative bases in the field of trade, industry, free economic zones and industrial cities.
The sixth meeting of the joint intergovernmental commission of Russia and Saudi Arabia on trade, economic, scientific and technical cooperation was held in Moscow on June 9-10.
