Saudi Gazette report

RIYADH — The Council of Ministers on Tuesday underscored the Kingdom’s keenness on building strategic partnership with Russia. The Cabinet meeting was chaired by Custodian of the Two Holy Mosques King Salman at Al-Yamamah Palace here on Tuesday.

Minister of Media Turki Al-Shabanah said that the Cabinet highlighted the emphasis made by Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, with the Russian President Vladimir Putin while co-chairing the first meeting of the Saudi-Russian Economic Committee on the importance of continuing bilateral cooperation, building strategic partnership between the two countries, improving available opportunities and exploring more joint investment and production projects in line with the Kingdom’s Vision 2030, Saudi Press Agency (SPA) said.

The Cabinet reviewed the talks between the crown prince and Putin, citing promising opportunities in various fields, including cooperation in energy and latest developments in the Syrian and Yemeni arenas. The King briefed the Cabinet on the outcome of his official talks with Putin, including reviewing distinguished relations between the two countries in various fields. He appreciated Russia’s active role in the affairs of the region and the world. The King noted that Saudi Arabia aspires to working along with Russia in all that would bring security, stability and peace, as well as to confront extremism and promote economic growth. “The Kingdom is also keen on working on promoting joint investment and trade opportunities between the two sides, which will have great positive results on the interests of the two countries and their peoples,” the King pointed out. Al-Shabanah said the Cabinet hailed the Saudi-Russian energy partnership, the signing of the cooperation agreement between the world’s largest oil producing countries, the exchange of agreements, memoranda of understanding and cooperation programs between the two governments. “This represents a new phase of cooperation and integration in many developmental areas aimed at achieving prosperity and progress in both countries,” the Cabinet statement said noting that the two sides are working to develop these on a more solid, strong and sustainable basis.

The Cabinet also commended the alignment between the ambitions and strategic objectives of the Vision 2030 and the Russian strategic development plans, and expanding cooperation between the energy sector and various developmental, economic and financial sectors.

Al-Shabanah said the Cabinet reviewed the deliberations of the Saudi-Russian CEO Forum that focused on the future of energy, solutions for its sustainability, existing and future investments between the two countries, opportunities for joint cooperation, agricultural sustainability and global food security. This will be through the partnership between the two countries through the Saudi-Russian Committee, and in the framework of the Kingdom’s continued keenness on a greater success for a sustainable national economy as one of strong and growing economies of the G20 and its high value investment opportunities.

The Cabinet authorized minister of commerce and investment or his deputy to discuss with the Dominican side a draft memorandum of understanding regarding promotion of trade, investment and production chains, and submit the final signed version, to complete formal procedures. The Cabinet also authorized minister of media and chairman of the Saudi Press Agency or his deputy to discuss with the Lebanese side a draft cooperation agreement.

The Council also authorized the Board of Grievances to discuss a draft memorandum of understanding with Case Western Reserve University in the United States, in the field of research and training, sign it and submit it to complete formal procedures.