Latest news with #Saudi-Russian
Leaders
2 days ago
- Business
- Leaders
Saudi Arabia Unleashes New Horizons for Mining Cooperation with Russia
Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef met on Thursday with Russian Minister of Natural Resources and Environment Alexander Kozlov in Moscow, according to the Saudi Press Agency. Saudi-Russian Cooperation During the meeting, both ministers discussed the Saudi-Russian cooperation and explored how to further boost the bilateral collaboration in mining sector. They also stressed the significance of international cooperation to unleash new horizons for mining industry address the global challenges to secure a sustainable future for this growing sector. Bandar Alkhorayef Crucially, the meeting also delved into possible opportunities for collaboration between both Russia and Saudi Arabia to expand mineral exploration and deploy advanced mining technologies. The meeting was an integral part of Alkhorayef's visit to Moscow to expand strategic economic partnerships with Russia, particularly in the industrial and mining sectors. Saudi Mining Sector After launching Vision 2030, the Kingdom has taken serious steps to end its dependency on oil and unleash new horizons of diversified economy. The Kingdom's comprehensive road map for economic development and diversification has singled out the mining sector as the potential third 'pillar' of the industry after petroleum and petrochemicals. The Ministry of Industry and Mineral Resources has brought together its visions and objectives under the umbrella of the National Industrial Development and Logistics Program (NIDLP). NIDLP NIDLP includes 4 main sectors: energy, industry, mining, and logistics. It marks the Kingdom's pursuit to becoming a pioneering industrial powerhouse and prestigious global logistics hub. The program primarily aims at positioning the Kingdom as an effective key player in the energy, mining, logistics as well as industry sectors. To this end, it set a comprehensive mining strategy that includes 38 initiatives designed to foster mining exploration and development. The initiative sheds light on Saudi Arabia's status as the fourth-largest net importer of these materials in the world. This fact represents a golden opportunity for this promising sector to drive the Saudi economic growth. Related Topics: Mining in Mauritania: A Leading Sector with Promising Horizons Saudi Arabia Showcases Mining Exploration Opportunities to Leading UK Firms Ministry of Industry Launches Women in Mining Non-Profit Organization Short link : Post Views: 8
Saudi Gazette
4 days ago
- Business
- Saudi Gazette
Alkhorayef emphasizes Saudi Arabia's growing role as global industrial investment hub
Saudi Gazette report YEKATERINBURG — Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized the Kingdom's growing role as a global destination for industrial investment. He highlighted this while chairing Saudi-Russian roundtable meeting held on the sidelines of the 2025 INNOPROM International Industrial Exhibition in Yekaterinburg, Russia. The roundtable, organized by the Ministry of Investment, brought together senior government officials, business leaders, and investors from both Saudi Arabia and the Russian Federation to explore avenues for deepening economic and industrial cooperation and forming strategic partnerships in key sectors. In his speech, Alkhorayef highlighted the transformative impact of Vision 2030 in reshaping the Kingdom's economy into a diversified, competitive, and sustainable model. He underscored the wealth of opportunities available in Saudi Arabia's strategic sectors, particularly in industry and mining. He pointed to a range of strategic assets that make the Kingdom an attractive investment destination, including its geographic position linking major global markets, robust industrial infrastructure comprising industrial cities and economic zones, as well as the availability of natural resources, competitive energy prices, and a skilled workforce. He noted the ease of doing business and the wide range of investor support services available, such as financing solutions, ready-built factories, and export incentives. The minister stressed Saudi Arabia's commitment to building human capital as a cornerstone of sustainable industrial growth. He noted that the Kingdom's localization efforts include comprehensive training and upskilling programs aimed at equipping the national workforce with advanced manufacturing competencies tailored to the evolving needs of modern industries. Also present at the meeting were Assistant Minister of Investment Dr. Abdullah Aldubaikhi and Saudi Ambassador to Russia Abdulrahman Al-Ahmad. The roundtable formed part of Minister Alkhorayef's official visit to Russia, where he is leading the Saudi delegation at INNOPROM 2025. Saudi Arabia's participation underscores its efforts to enhance international industrial cooperation, promote knowledge transfer, and attract advanced technologies to support the localization of high-potential industries. Saudi Arabia's global industrial ambitions unveiled at INNOPROM Minister Alkhorayef unveiled on Wednesday Saudi Arabia's sweeping industrial ambitions during his participation at INNOPROM 2025 in Yekaterinburg, positioning the Kingdom as a rising global force in future technologies and advanced manufacturing. Speaking at a strategic dialogue session titled "Technological Leadership: Industrial Breakthrough," Alkhorayef outlined the Kingdom's plan to lead the next wave of industrial innovation by strengthening its position in global value chains and accelerating the adoption of Fourth Industrial Revolution technologies. Alkhorayef thanked the Russian Federation and the INNOPROM organizers for hosting the Kingdom as a strategic partner at this year's exhibition. He noted that Saudi Arabia's participation reflects its broader commitment to international cooperation and its intent to attract partners to the Kingdom's rapidly evolving industrial landscape. The minister said that the National Industrial Strategy, launched in 2022, is central to the transformation aimed at reshaping the Kingdom's industrial foundation. The plan is based on three main pillars. The first focuses on industries critical to national resilience, such as food, pharmaceuticals, water, and defense, which are being localized through targeted investments and international partnerships. The second pillar leverages Saudi Arabia's natural and logistical advantages, including its oil, gas, and mineral wealth, as well as its strategic location as a crossroads between continents, covering advanced petrochemicals, mining, and high-value downstream industries. The third pillar targets future-oriented sectors, such as artificial intelligence, 3D printing, and Industry 4.0 applications, where the Kingdom aims to take early leadership through strong R&D support, technology adoption incentives, and a robust local content policy that prioritizes national capabilities. Alkhorayef noted that the mining sector has become a significant pillar of Vision 2030. Through extensive geological surveying, the estimated value of Saudi Arabia's mineral resources has increased from $1.3 trillion to $2.5 trillion, encompassing critical minerals such as phosphate, copper, iron ore, zinc, and other strategic materials. He emphasized that the sector is advancing with a full commitment to environmental stewardship and social responsibility. The minister highlighted the Kingdom's growing role as a global convenor for critical minerals dialogue through the Future Minerals Forum (FMF), hosted annually in Riyadh. Since its inaugural edition in 2022, FMF has become a leading global platform for shaping the future of minerals, driving collaboration on mineral resilience and responsible supply by bringing together governments, industry experts, investors, academia, and stakeholders across the entire mineral value chain. The minister highlighted the similarities between Saudi Vision 2030 and Russia's strategic development goals, particularly in economic diversification, digital transformation, and industrial innovation. He referenced the establishment of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi Commercial Attaché office in Moscow in 2022 as pivotal steps in deepening bilateral cooperation. He noted that the volume of trade exchange between the two countries has witnessed remarkable growth in recent years, rising from $491 million in 2016 to more than $3.28 billion in 2024.
Leaders
7 days ago
- Business
- Leaders
Saudi Arabia Inaugurates New Embassy Building in Moscow
Saudi Arabia's Minister of Foreign Affairs Prince Faisal bin Farhan inaugurated the new building of the Saudi Arabia's Embassy in the Russian capital, Moscow on Saturday, according to the Saudi Press Agency. The inauguration ceremony witnessed the attendance of Assistant Minister of Foreign Affairs Abdulhadi Al-Mansouri, Deputy Minister for Political Affairs Dr. Saud Al-Sati as well as Saudi Ambassador to Russia Abdulrahman Al-Ahmad. Deputy Minister for Projects and Assets Eng. Khalid Al-Rumaih and other ministry officials also attended the meeting. Prince Faisal unveiled the commemorative plaque and toured the new headquarters' facilities, departments and services. The opening of the new building stands as a testament to the ministry's commitment to offering modern and outstanding real estate assets and providing high-quality services to citizens and visitors abroad. On Friday, Prince Faisal held an official meeting on Friday with his Russian Counterpart Sergey Lavrov during an official visit to Moscow. Both ministers discussed bilateral relations and cooperation between their countries and peoples and also explored ways to further boost their ties. Prince Faisal also commended the strong Saudi-Russian relations and the increasing numbers of tourists between both countries. 'We hope that the visa exemption agreement will significantly foster tourism cooperation and expand direct flights between both countries,' Prince Faisal added. He also praised the constructive consensus between the two countries, emphasizing their joint efforts to address global challenges in the energy sector. Related Topics: Putin Grateful to Saudi Arabia for Hosting US-Russia Talks Rubio Applauds Saudi Crown Prince for Pivotal US-Russia Peace Talks Saudi-hosted US-Russia Talks were 'Successful': Russia's Top Foreign Policy Advisor Short link : Post Views: 8 Related Stories
Leaders
05-07-2025
- Politics
- Leaders
Saudi FM Commends Strong Relations with Russia
During an official visit to Moscow, Saudi Arabia's Minister of Foreign Affairs Prince Faisal bin Farhan commended the strong Saudi-Russian relations and the increasing numbers of tourists between both countries, according to Alekhbariya TV channel. 'We hope that the visa exemption agreement will significantly foster tourism cooperation and expand direct flights between both countries,' Prince Faisal added. وزير الخارجية الأمير فيصل بن فرحان : نأمل أن يسهم إعفاء التأشيرات بين السعودية وروسيا ؛ بتعزيز التبادل والتوسع بين البلدين وزيادة أعداد السياح ؛ بما يدعم تعميق العلاقات الثنائية. – — خبر عاجل (@AJELNEWS24) July 4, 2025 He also praised the constructive consensus between the two countries, emphasizing their joint efforts to address global challenges in the energy sector. Saudi FM Discusses Regional Developments with Russian Counterpart On Friday, Prince Faisal held an official meeting with his Russian Counterpart Sergey Lavrov, according to the Saudi Press Agency. Both ministers discussed bilateral relations and cooperation between their countries and peoples and explored ways to further boost their ties. Moreover, they held an official session of talks to address latest developments in the region and efforts made to maintain peace and security. When asked about the possibility of the normalization deal with Israel, Prince Faisal stressed that the Kingdom's current priority is reaching a permanent ceasefire in Gaza, Al Arabiya reported. 'What we are seeing is the Israelis are crushing Gaza, the civilian population of Gaza,' he said. 'This is completely unnecessary, completely unacceptable and has to stop.' Since the beginning of Gaza War on October 7, 2023, Israel has killed at least 57,000 Palestinians and caused one of the worst humanitarian crises all over the world. Related Topics: Russia 'Condemns, Regrets' US Strikes on Iran Trump, Putin Thank Saudi Crown Prince for Hosting US-Russia Talks Russia-US Talks: Top Officials Head to Saudi Arabia Short link : Post Views: 29
Arab News
01-03-2025
- Business
- Arab News
Why Riyadh is building bridges between the US and Russia
The initial contacts with the new US administration inspired certain hope, Russian President Vladimir Putin told a meeting of the Russian Federal Security Service board on Feb. 27. He emphasized that 'Russia and the US are ready to resume cooperation,' adding that 'the current US partners demonstrate pragmatism and a realistic view of things, moving beyond stereotypes.' Putin's positive stance would not have occurred without a meeting held between the Russian and US delegations earlier the same month in Riyadh. The meeting was overseen by Crown Prince Mohammed bin Salman, who entrusted the task to two key figures in the Saudi government: Minister of Foreign Affairs Prince Faisal bin Farhan and National Security Adviser Minister Musaed Al-Aiban. Both officials have extensive diplomatic experience and a significant ability to build bridges between different parties — important skills that led to Putin and US leader Donald Trump praising the initial results of the dialogue in the Saudi capital. Despite the strong strategic relations between Saudi Arabia and the US, Riyadh has adopted a flexible diplomacy in recent years, during which it diversified its foreign choices. For instance, it built partnerships with influential countries, such as China, Russia, and India; strengthened its relations with the EU; and became more open to regional neighbors, specifically Iran, restoring diplomatic relations with the latter following the agreement in Beijing in March 2023. Saudi Arabia recognizes the importance of the US as a significant economic, political, technological, and military force. There are also mutual commercial interests, and diplomatic relations spanning nearly a century. Moreover, Washington considers Riyadh a fundamental partner in combating terrorism and, therefore, both countries have been keen to strengthen relations and manage any differing views without clashing or causing rupture. This was especially true during the tenures of Presidents Barack Obama and Joe Biden, when points of disagreement emerged between both countries, whether regarding the Iranian nuclear agreement, the Yemen war, or the Israeli aggression against Gaza, as well as other energy and human rights issues. The Kingdom worked to address this policy divergence calmly, communicating with different institutions in the US. Riyadh also strengthened its relations with Beijing and Moscow, increasing volumes of trade. Furthermore, there was a clear Saudi-Russian coordination at OPEC+ to maintain energy prices at reasonable levels, benefiting both producing and consuming countries. This political and economic balance — coupled with patience and Riyadh's efforts to develop state institutions, diversify its economy and modernize society, along with its active diplomacy in reducing tensions with Iran and the Houthis in Yemen, supporting the central state in Iraq, dealing realistically with the new government in the Syrian Arab Republic, and playing active roles during the Israeli war against Gaza and Lebanon — has elevated its international position and reputation as a central state capable of promoting peace and reducing conflicts. The Kingdom has emerged as a major player in restoring relations between the US and Russia, earning the respect and trust of both sides. Hassan Al-Mustafa Additionally, Saudi Arabia worked on condemning the Russian invasion of Ukraine, launching a relief air bridge to the Ukrainian people. It also received President Volodymyr Zelensky, held a peace conference aiming to stop the war, and brokered the release of a group of prisoners in both countries, without adopting a hostile stance toward Moscow or siding with NATO's escalatory policies against Russia. This earned Saudi Arabia special respect from Putin. At the American level, the Saudi government worked to smooth things over with the administration of former President Biden, who visited Riyadh and was received by King Salman and the crown prince. At the same time, Riyadh avoided cutting ties with Trump after he left the White House. Instead, both sides maintained relations of mutual respect. As a result, when Trump returned to the presidency, Riyadh was among the first to congratulate him, prompting the new president to choose Saudi Arabia as a friendly and trusted country in which to hold the first meetings between the US and Russian delegations. During the opening session of the Saudi Future Investment Initiative in its third edition in Miami, Trump said: 'Saudi Arabia is a great country with great leadership.' He thanked the Kingdom for hosting talks between Russian and US officials, adding that 'Riyadh did a great job by hosting these talks.' For his part, Putin called the crown prince and thanked Saudi Arabia 'for hosting the fruitful talks between Moscow and Washington.' The crown prince affirmed his country's commitment to 'exerting all possible efforts to enhance global security and peace, believing that dialogue is the only way to resolve all international crises.' In this context, the official visit of Saudi Defense Minister Prince Khalid bin Salman to the US can be highlighted, as he met with his US counterpart Peter Hegseth and US Secretary of State Marco Rubio, to discuss 'regional and international developments, and the efforts exerted to achieve security and stability.' According to the US Department of State, both sides explored 'ways to strengthen peace in Syria, Lebanon, and Gaza.' Prince Khalid wrote on X: 'Pleased to meet my friend (US National Security Adviser) Michael Waltz. We reviewed the Saudi-US strategic relationship and explored opportunities to strengthen our bilateral cooperation.' All these cumulative diplomatic efforts over the years have qualified Saudi Arabia to be a major player in restoring relationships between the US and Russia, earning the respect and trust of both sides. Through this mission, Riyadh is seeking an end to the war in Ukraine, to strengthen mutual understanding and solve the crises in the Middle East, and to encourage Russia and the US to actively participate in the process of achieving permanent and comprehensive peace in the region.
