Russian Ambassador: Moscow and Riyadh intend to increase trade between themselves

Russian Ambassador to Riyadh Sergei Kozlov said that Russia and Saudi Arabia intend to increase the volume of trade between the two countries to $5 billion.

The ambassador added: “Bilateral trade and economic relations are characterized by positive dynamics, although according to preliminary data, between January and November 2022, the value of Russian-Saudi trade decreased slightly. prerequisites for further growth in 2023. Moreover, the Russian and Saudi sides intend to reach the level of five billion dollars set by the high command of Russia and Saudi Arabia in the foreseeable future.

On the other hand, the ambassador pointed out that the volume of exports of agricultural products from Russia to Saudi Arabia in 2022 increased by about 50%: “In 2022, exports of domestic agricultural and industrial products to Saudi Arabia increased in an unprecedented way – by 49.9% and approached to the billion dollar mark.

The ambassador pointed out that in October 2022, the Minister of Agriculture of Russia Dmitry Patrushev visited the Kingdom, timed to coincide with the largest regional agricultural exhibition of Saudi Arabia “Agriculture-2022”, and as a result of the visit, important agreements were reached on the further promotion of Russian agricultural products to the local market.

The ambassador stressed that Moscow considers cooperation with Riyadh in the agrarian sector as one of the driving forces for the development of the entire range of Russian-Saudi trade and economic relations.

Source: News

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