RIYADH: Saudi Vice Minister of Environment, Water and Agriculture Mansour Al-Mushaiti witnessed the signing of 13 agreements and memoranda of understanding worth SR4.8 billion ($1.28 billion) between Saudi and Russian entities on the sidelines of the St. Petersburg International Economic Forum.
The agreements are aimed at expanding bilateral cooperation and boosting trade and investment ties between the two countries, with a focus on food security, biotechnology, livestock production and supply-chain resilience.
Al-Mushaiti said the Ministry of Environment, Water and Agriculture has worked to attract leading Russian companies operating in strategic agriculture and food sectors as part of efforts to deepen economic cooperation between the Kingdom and Russia.
He noted that the forum witnessed the signing of a package of high-quality agreements and partnerships between government entities and major private-sector companies from both countries, supporting the Kingdom’s efforts to enhance food security, localize advanced biotechnology, and strengthen supply chain sustainability in line with the objectives of Saudi Vision 2030.
Al-Mushaiti said the agreements and MoUs signed during the Kingdom’s participation as guest of honor at the forum covered several strategic sectors, including the manufacturing and localization of veterinary vaccine production to support animal health and biosecurity, as well as the development and propagation of broiler breeds to enhance self-sufficiency and the sustainability of domestic production.
The agreements also included securing feed inputs and supply chains to support the stability and growth of the livestock sector, as well as the export of Saudi fish products through strategic agreements for shrimp and fish exports in cooperation with Russian companies specializing in import and international distribution.
Al-Mushaiti added that the forum also witnessed the signing of agreements to market and export camel milk and its derivatives to Russian and international markets, promote and export Saudi coffee products, and enhance cooperation and exchange in the soft drinks sector.
He stressed that the Kingdom’s participation in SPIEF reflects the importance of the strategic partnership between Saudi Arabia and Russia and provides opportunities to exchange expertise and explore investment opportunities in the environment, water, and agriculture sectors.
