On November 24, a joint meeting of the Russian-Saudi Business Council was held at the Chamber of Commerce and Industry of the Russian Federation, attended by representatives of Russian and Saudi business circles and government agencies.
The meeting took was held under the leadership of co-chairmen of RSBC – the Chairman of the Russian-Arab Business Council, the Chairman of the board of directors of JSC AFK Sistema V. P. Yevtushenkov and the Chairman of the board of Chamber of Commerce and Industry of KSA - Abdurrahman Az-Zamelya. The action has been organized on fields of the Russian-Saudi Joint Intergovernmental Commission passing these days on trade, economic, scientific and technical cooperation and has been intended to develop recommendations for inclusion in the final document of the Joint Intergovernmental Commission.
Besides senior representatives of the Saudi and Russian business, at an action there was a Vice-president of Chamber of Commerce and Industry of the Russian Federation G.G. Petrov and the Ambassador Extraordinary and Plenipotentiary of the Russian Federation in the Kingdom of Saudi Arabia O.B. Ozerov.
Participants of a meeting welcomed the decision of the Russian company JSC AFK Sistema and the Saudi company "Vafrat At-Tavasul" on creation of the Russian-Saudi investment company designed to carry out direct capital investments in projects in such spheres as: industry, agriculture, power, health care and the real estate.
Representatives of a business community of both countries have told about the activity and business interests, features of business and investment climate in Russia and Saudi Arabia. The parties have discussed the most important issues of the current agenda of the Russian-Saudi trade and economic cooperation, including need of increase in commodity turnover and increasing investment cooperation, existence of difficulties in export of the Russian food production from Russia in KSA connected with requirements of Public administration for food products and medicines of the Kingdom, need of simplification of process of issue of entry visas to Saudi Arabia to representatives of the Russian business and other problems. Participants of a meeting have hoped for the fastest signing of the bilateral agreement about protection and encouragement of the capitals between two countries which, undoubtedly, will create the legislative base and will give a new impulse to investment cooperation between two countries.
The protocol of last meeting has been signed on November 26 during work of the Joint Intergovernmental Commission on trade and economic and scientific and technical cooperation. The parties have agreed about holding the next joint meeting of the Russian-Saudi Business Council in 2016 in the territory of Saudi Arabia.