The visit coincides with the Jeddah Economic Forum (JEF) opening on Saturday.

The team is led by Vladimir Evtushenkov, chairman of Russian-Arab Business Council and Russian-Saudi Business Council.

He is also the head of Sistema, the largest public diversified financial corporation in Russia and the CIS, which serves about 100 million consumers.

The president of the Russian republic of Bashkortostan, Rustem Khamitov, adds weight to the high-profile delegation.

Bashkortostan is one of the most developed regions of the Russian Federation in terms of its gross regional output, volume of industrial production, agricultural production, and investment in fixed assets.

A key feature of the trade tour will be the Russian-Saudi Business Forum and the Third Russian Exhibition taking place in Jeddah from Thursday to March 23.

These events, branded as the Russian Business Week in Saudi Arabia, are jointly organized by the Russian-Arab Business Council (RABC) and the Arabia-Expo exhibitions company.

The business forum offers an extensive schedule, including a plenary session and round-table discussions, bilateral meetings and negotiations.

The Russian-Saudi Business Council is expected to hold its 12th meeting within the forum’s framework.

Delegation members are also expected to visit key ministries and official institutions as well as headquarters of major state-owned companies here.

Organizers said the Third Russian Exhibition, taking place during the JEF, had attracted participants from the Arab region and other parts of the world interested in the development of cooperation with the Middle East.

The Russian delegation will also take part in the JEF, hold a special session and a series of meetings with Saudi business circles, including a meeting at the Jeddah Chamber of Commerce & Industry.

The RABC, based in Moscow, is an organization that develops trade and economic relations between Russia and Arab states and provides assistance in establishing business contacts between industrialists.