Saudi Arabia and Russia Sign $1.28 Billion In Strategic Agreements at St. Petersburg Forum
The agreements, signed on the sidelines of the St. Petersburg International Economic Forum, focus on food security, trade expansion, biotechnology, and agricultural cooperation
ERBIL (Kurdistan24) - Saudi Arabia and Russia signed 13 strategic agreements and memorandums of understanding worth 4.8 billion Saudi riyals during the St. Petersburg International Economic Forum, marking a significant step in expanding economic and trade cooperation between the two countries.
The agreements were signed across multiple sectors, with a primary focus on strengthening food security and developing bilateral trade relations.
According to Saudi officials, the deals are part of the Kingdom's broader efforts to achieve the objectives of Vision 2030 while advancing the adoption of modern biotechnology and attracting international investment into key economic sectors.
Speaking about the agreements, Saudi Deputy Minister of Agriculture Mansour Al Mushaiti said the cooperation package covers several vital sectors.
"The agreements signed with the Russian side include a number of strategic areas, including the localization of veterinary vaccine production to protect animal health, the development of broiler chicken breeds to enhance self-sufficiency, and securing feed supplies to support the growth of the livestock sector," he said.
Al Mushaiti added that some of the agreements focus on exporting Saudi seafood products, including shrimp and fish, to Russian and international markets through specialized companies.
Additional arrangements were reached to export camel milk and its derivatives, while both sides also agreed to cooperate on promoting Saudi coffee and expanding collaboration in the beverages sector.
Al Mushaiti emphasized that Saudi Arabia's participation as the guest of honor at the St. Petersburg International Economic Forum reflects the depth of the strategic partnership between Riyadh and Moscow.
He said the forum provides an important platform for exchanging expertise and exploring new investment opportunities, particularly in the fields of agriculture and environmental sustainability.
The latest agreements underscore growing economic cooperation between Saudi Arabia and Russia as both countries seek to expand trade, strengthen food security, and develop long-term partnerships across key strategic sectors.