Putin, Crown Prince to Attend First Meeting of Russian-Saudi Economic Committee on Monday

Sputnik, 14.10.2019

RIYADH, October 14 (Sputnik) - The Russian-Saudi Economic Committee will convene for the first time later on Monday in presence of President Vladimir Putin and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to discuss new joint projects, according to the Russian Direct Investment fund (RDIF).

The newly-established body will lead efforts in developing economic, investment and trade ties between the two nations, according to the Russian fund. The committee will be co-chaired by RDIF CEO Kirill Dmitriev and Saudi National Guard Minister, Prince Abdullah bin Bandar bin Abdul Aziz.

"The creation of the Russian-Saudi Economic Committee represents another important milestone in the rapidly developing relationship between our countries. The new Committee, which includes top businessmen from Russia and Saudi Arabia, will focus on large scale joint projects including localization of production and entrance to the large Saudi market for the Russian companies. We expect investment on both sides to grow exponentially after the Committee’s first meeting today," Dmitriev said.

The countries launch the work of the economic committee as part of Putin’s one-day state visit to the kingdom.