Russia–Saudi Business Forum in Riyadh Showcases Innovation and Delivers Key Intergovernmental Agreements

Manal Saleh

Intergovernmental Agreement on mutual visa exemption for holders of all types of passports

The Russia–Saudi Investment and Business Forum opened in Riyadh on the sidelines of the 9th meeting of the Joint Intergovernmental Russian–Saudi Commission on Trade, Economic, Scientific and Technical Cooperation, reinforcing the strategic partnership between the Russian Federation and the Kingdom of Saudi Arabia.

In his welcoming remarks, His Royal Highness Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia, underlined that the partnership launched a decade ago has become a foundation of mutual trust and continues to advance despite global uncertainty. Deputy Prime Minister of the Russian Federation Alexander Novak highlighted that Russian–Saudi cooperation is entering a new phase of qualitative growth, with a focus on building joint industrial and technological value chains.

The Forum’s business programme addresses prospects for expanding trade and investment and deepening cooperation in energy, industry, transport and logistics, agriculture and food security, tourism, and digital technologies. The event brought together senior government officials, development institutions and leading companies from both countries.

As part of the Forum, a technology and innovation exhibition was held in Riyadh. His Royal Highness Prince Abdulaziz bin Salman Al Saud and Alexander Novak toured the exhibition, guided by Roscongress Foundation Chairman and CEO Alexander Stuglev. Russian companies presented advanced solutions in electric mobility and logistics, digital displays and interactive systems, industrial engineering and water treatment, polyurethane materials, information security and data storage, unmanned aerial systems and small satellites, air purification, fast-assembly construction, as well as international fintech services. AFK Sistema, Sberbank and the Russian–Arab Business Council also showcased their projects and capabilities.

On the sidelines of the Forum, Russia and Saudi Arabia signed a series of intergovernmental documents aimed at further strengthening bilateral cooperation, including: An Intergovernmental Agreement on mutual visa exemption for holders of all types of passports, A Memorandum of Understanding on climate change and low-carbon development and A Memorandum of Cooperation in the field of archives

The Forum is organized on the Russian side by the Roscongress Foundation together with the Russian–Saudi and Russian–Arab Business Councils, with the support of the Government of the Russian Federation and the Ministry of Economic Development of the Russian Federation.

Saudi Arabia has been announced as the Guest Country of the St. Petersburg International Economic Forum (SPIEF) 2026, which will take place from 3 to 6 June in St. Petersburg, further consolidating the partnership between the two countries on one of the world’s leading economic and business platforms.