Riyadh: Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, also Co-Chair of the Saudi-Russian Joint Commission, and Deputy Prime Minister of the Russian Federation Alexander Novak inaugurated the Saudi-Russian Investment and Business Forum in Riyadh. The forum, organized by the Saudi ministries of energy and investment, aimed to strengthen economic cooperation between the Kingdom of Saudi Arabia and the Russian Federation. It was attended by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah, senior officials, experts, and investors from both countries.
According to Saudi Press Agency, a memorandum of understanding on cooperation in climate change and low-greenhouse-gas-emissions development was signed on the sidelines of the forum. This MoU, signed between the Saudi Ministry of Energy and the Russian Ministry of Economic Development, aims to establish a comprehensive framework for cooperation in climate action, advancing the goals of the United Nations Framework Convention on Climate Change and the Paris Agreement.
The MoU includes technologies and solutions for climate-change mitigation, exploring joint opportunities in GHG emissions reduction, abatement, removal activities, and improving energy efficiency. Additionally, a mutual visa waiver agreement between Russia and Saudi Arabia was signed by Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and Russian Deputy Prime Minister Alexander Novak.
Furthermore, Prince Abdulaziz witnessed the signing of an agreement between the King Abdulaziz Foundation for Research and Archives (Darah) and the Federal Archival Agency of the Russian Federation. The agreement focuses on cooperation in exchanging information, organizing symposia, forums, exhibitions, sharing publications, and facilitating mutual visits and expertise. This agreement was signed by Darah CEO Turki bin Mohammed Al-Shuwaier and Minister of State and Deputy Head of the Federal Archival Agency Andrey Yurasov.