The Russian Direct Investment Fund (RDIF) and the Public Investment Fund of Saudi Arabia are currently working on 12 additional cooperation projects in various areas. This was announced on Thursday by Russian Foreign Minister Sergey Lavrov at a press conference following the talks with Saudi Arabian Foreign Minister Faisal bin Farhan Al Saud.
Lavrov noted a "good growth in trade turnover" between Moscow and Riyadh, despite the pandemic, and the work of the intergovernmental commission on trade and economic cooperation in this regard. "The Russian Direct Investment Fund and the Public Investment Fund of Saudi Arabia cooperate closely. Together, in the framework of the established platform, they have already mastered $ 2.5 billion and now are working on 12 additional projects in various fields," he said.
The Head of the Ministry of Foreign Affairs also reminded that Russia and Saudi Arabia closely coordinate their actions in the world markets of hydrocarbons, including within the frames of OPEC+ transaction that "has a stabilizing effect on oil prices". "Specific projects in advanced fields such as space exploration and nuclear power are being discussed. We also agreed to accelerate the preparation of a number of documents that will strengthen our contractual legal framework," the minister said.
GSV "Russia - Islamic World"
Photo: Creative Commons
Based on materials from TASS