Saudi Arabia and Russia Sign 13 Strategic agreements Worth 4.8 Billion Riyals to Boost Food Security and Local Industry

His Excellency the Deputy Minister of Environment, Water and Agriculture, Engineer Mansour bin Hilal Al-Mushaiti, witnessed—on the sidelines of the St. Petersburg International Economic Forum—the signing of 13 strategic agreements and memorandums of understanding between the Kingdom of Saudi Arabia and the Russian Federation, with a total investment value of 4.8 billion riyals. These agreements aim to expand cooperation and strengthen trade and investment exchange between the two countries.
The Deputy Minister of Environment confirmed that the “Environment” system has worked to attract major Russian companies specializing in vital and food-related sectors. The forum witnessed the signing of a package of qualitative agreements and partnerships between government entities and major business companies in both countries. This comes as part of the Kingdom’s ongoing efforts to achieve food security goals, localize advanced biotechnologies, and ensure the sustainability of supply chains, in line with the objectives of Saudi Vision 2030.

Al-Mushaiti said that the agreements and memorandums of understanding signed on the sidelines of Saudi Arabia’s participation as Guest of Honor at the St. Petersburg International Economic Forum were distributed across several vital areas. These include the manufacturing and localization of veterinary vaccines to enhance animal health and biosecurity, the development and breeding of broiler chicken strains to ensure self-sufficiency and sustainable local production, as well as securing feed inputs and supply chains to ensure stability and growth in the livestock sector. They also include the export of Saudi fishery products through strategic agreements to export shrimp and fish via Russian companies specialized in global import and distribution.

He added that the forum also witnessed agreements to market and export camel milk products and derivatives to Russian and global markets, an agreement to promote and export Saudi coffee products, as well as a cooperation agreement and exchange in the field of soft drinks.

He confirmed that the Kingdom’s participation in the St. Petersburg International Economic Forum reflects the importance of the strategic partnership between Saudi Arabia and Russia, and also serves as an opportunity to exchange expertise and explore available investment opportunities in the fields of environment, water, and agriculture.