RIYADH: The Kingdom is set to start a new chapter in its overall relations with Russia, and herald a new era of Saudi-Russian economic cooperation following the high-profile visit of King Salman, which begins on Thursday.
Russia, no doubt, will be a new addition to the list of Saudi Arabia’s most-favored nations, with which it will enter into a strong strategic economic alliance within the days to come.
Saudi-Russian relations, which took off during the visit of Crown Prince Mohammed bin Salman to Russia in May within the framework of Vision 2030, will be further consolidated during the visit of King Salman.
Several agreements including memoranda of understanding (MoU), predominantly in the fields of energy, economy and commerce, have been lined up for signing between the two countries during the royal trip.
No doubt, Saudi Arabia is intensifying its diplomatic efforts to start a new era on the commercial front. During the visit to Russia of Crown Prince Mohammed bin Salman, the Saudi side expressed a desire to develop strong cooperation with Russia in investment, space exploration, residential construction and other areas.
Back in June, on the sidelines of the St. Petersburg International Economic Forum, an agreement was signed on long-term bilateral cooperation in the peaceful use of nuclear energy. The two countries also identified that the most promising areas of cooperation are energy, geological exploration, mining, petrochemicals, tanker construction, investment cooperation, and training of personnel.
This is apart from the interest evinced by the Russian Direct Investment Fund (RDIF) and the Saudi agencies to cooperate.
On the trade front, the two countries have forged closer ties. Total trade exceeds $1 billion, but these are the figures of the past. In fact, the commercial landscape between Riyadh and Russia will rapidly and substantially change following the visit of King Salman.
Referring to the agreements to be signed by Riyadh and Moscow during King Salman’s visit to Russia, a Reuters report said that Saudi Arabia is expected to sign several memoranda with Russian companies during the royal visit. State oil giant Saudi Aramco and Saudi Basic Industries Corp. (SABIC) will sign a memorandum with Russia’s biggest petrochemical company Sibur to look for opportunities to build petrochemical plants in both countries.
The agreement is one of several due to be signed during King Salman’s visit to Russia this week, his first trip to Moscow since becoming king in 2015. Other agreements expected to be signed include a memorandum between Saudi Aramco and Novatek, Russia’s biggest non-state gas producer, to look for investment opportunities in the gas sector, said the Reuters report. Local Saudi Aramco and SABIC officials declined to comment on the possible deals.
Regarding other agreements to be signed by the two sides, Kirill Dmitriev, the head of the sovereign RDIF, on Tuesday said that “the fund was in the final stage of negotiations with Saudi partners about major Russian projects in the Kingdom,” without giving specifics. He said, however, that the fund and its Saudi partners would announce the creation of a new investment platform in energy sectors, as well as investments in industry and infrastructure.
Moreover, the Russian side has also expressed interest in Saudi Arabia’s renewable energy sector, where the Kingdom was looking for major investments to help it produce 10 percent of its power from renewable sources. Also, Saudi Arabia is looking at nuclear energy to meet rising domestic power demand so more of its crude oil can be exported or converted into petrochemicals, rather than being used to generate electricity.
Dmitriev said that significant results have been achieved in the area of investment cooperation under a joint $10 billion framework created by the RDIF and Saudi Arabia’s Public Investment Fund (PIF). Dmitriev told Reuters in June after the RDIF agreed to buy a stake in Russian oil services company Eurasia Drilling, that the fund would also welcome Saudi investment in the company.
He said Saudi investors were already involved in a number of highly profitable projects in Russia, in sectors such as petrochemicals, infrastructure, logistics and hydropower, among others. Russia and Saudi Arabia will also unveil a “large” deal in the infrastructure sector later this week with Riyadh investing in toll roads in Russia including in Moscow, Dmitriev, said on Monday.
Russia’s interest in Saudi Arabia is multidimensional. Economically, Russian-Saudi understandings on oil production and oil exports can significantly affect global markets, Russia’s economy and the Russian government’s federal budget, which still depends heavily on oil-related tax receipts despite declining energy prices.
“Moscow also sees Saudi Arabia as a potential source of investment, something of growing importance,” said Hanif A. Amin, a local banker.
Amin said that “the visit of King Salman to Russia will herald a new era of commercial cooperation, which will go a long way in changing the economic landscape of the two countries, besides political discourses on the key regional issues.” Moreover, economic conditions in Russia in turn shape Russia’s domestic political environment as well as economic conditions in the country.
King Salman’s visit will herald new era of Saudi-Russian economic cooperation
King Salman’s visit will herald new era of Saudi-Russian economic cooperation
Water Partnership Forum explores opportunities for public and private sectors
- ‘By bringing together key players we are building a stronger foundation for sustainable water management’ — CEO of SWPC
RIYADH: The Saudi Water Partnership Company hosted a forum and award ceremony in Riyadh, bringing together key stakeholders, government officials and industry leaders for a day of dialogue, innovative workshops and strategic networking aimed at advancing the sustainability and resilience of Saudi Arabia’s water sector.
The forum was a platform for discussing advances in water management and sustainability and exploring opportunities for collaboration in the public and private sectors.
Subjects discussed included water sustainability, government collaboration, and public private partnership legislation. These sessions provided actionable insights and set the stage for future partnerships that will shape the water sector in Saudi Arabia and the broader MENA region.
Khaled AlQureshi, CEO of SWPC, said: “The SWPC Forum and award ceremony is a testament to the power of collaboration and innovation. By bringing together key players from across the water sector, we are building a stronger foundation for sustainable water management and aligning with the Kingdom’s strategic goals for the future.”
The workshops provided participants with in-depth insights into key topics such as optimizing tendering processes, building robust water infrastructure, financing water projects, and exploring long-term off-take partnerships.
Industry experts shared case studies and best practices, fostering knowledge exchange and equipping participants with actionable strategies to address complex challenges in water management.
Panel discussions delved into the nuances of stakeholder engagement, sustainable development, and the integration of advanced technologies.
The exhibition area displayed cutting-edge innovations and solutions, giving attendees a firsthand look at advances shaping the water sector.
These elements collectively positioned the forum as a pivotal event for driving innovation, sustainability and strategic collaboration.
The forum concluded with the SWPC Awards Ceremony inaugurated by Abdulrahman bin Abdulmohsen Al-Fadhli, the minister of environment, water and agriculture.
The ceremony celebrated excellence in water management, with awards recognizing innovation, operational excellence, and strategic partnerships.
Notable winners included projects in desalination, sewage treatment, and strategic water storage, all of which underscore Saudi Arabia’s commitment to water sustainability and infrastructure development.
The awards recognized innovation, operational excellence, and strategic partnerships that are advancing the Kingdom’s water sustainability initiatives.
Ramsar chief visits Farasan Islands for wetland talks
- The islands play a vital role in sustainable development and conserving biodiversity
RIYADH: The secretary-general of the Ramsar Convention on Wetlands, Musonda Mumba, visited the Farasan Islands Protected Area as part of advancing global cooperation on wetland protection.
The islands, one of the convention’s most prominent sites in the Kingdom, play a vital role in sustainable development and conserving biodiversity.
The visit included field tours and a presentation by the National Center for Wildlife on the national wetland conservation roadmap, highlighting the islands’ support for migratory birds and endangered species.
Located in the southern Red Sea, the Farasan Islands comprise over 170 ecologically diverse islands of significant heritage value.
Saudi Arabia’s membership of the Ramsar Convention on Wetlands reflects its commitment to addressing environmental challenges, including climate change.
Shared vision meets ambition as French President Macron begins Saudi Arabia state visit
- Visit to advance common goal of enhancing cooperation across various sectors in alignment with Saudi Vision 2030 and France 2030
- Schedule includes high-level meetings, a visit to Riyadh Metro, Saudi-French Economic Forum and cultural stops in Diriyah and AlUla
RIYADH: French President Emmanuel Macron’s arrival in Riyadh for a three-day state visit is a testament to the deepening ties between France and Saudi Arabia. His visit, which follows an invitation from Crown Prince Mohammed bin Salman, reflects the shared ambition to enhance cooperation across various sectors and to align with Saudi Vision 2030 and France 2030.
The state visit underscores a partnership rooted in mutual respect and long-term collaboration. It is the latest of several high-profile exchanges, including Macron’s Gulf tour in December 2021, which concluded in Jeddah, and Crown Prince Mohammed bin Salman’s visit to Paris in June 2023, accompanied by a ministerial delegation. These meetings set the stage for France’s endorsement of Saudi Arabia’s successful bid to host Expo 2030, marking a milestone in bilateral relations.
Macron’s schedule includes high-level meetings, a visit to Riyadh Metro, the Saudi-French Economic Forum and cultural stops in Diriyah and AlUla. Elysee Palace views Saudi Arabia’s ongoing modernization and reforms as vital to the strengthening of the Kingdom’s position as a central player in a more interconnected Middle East. Accordingly, it supports Saudi bids for major global events, such as hosting Expo 2030, 2034 football World Cup and Winter Olympics, considering them as opportunities for deeper cooperation.
The historical relationship between the two nations predates the Kingdom’s establishment. France opened its first consulate in 1830 in Jeddah in a part of the Arabian Peninsula that would later emerge as the Kingdom of Saudi Arabia. It was also one of the first countries to recognize Saudi Arabia as a sovereign state in 1926. Nearly a century later, the two countries share common values in international relations, including sovereignty, non-interference and respect for international law.
This partnership has evolved to address contemporary challenges. At the Summit for a New Global Financial Compact in June 2023, Saudi Arabia and France emphasized the need for an inclusive financial system to combat inequality, fund green transitions and achieve the UN Sustainable Development Goals. Their shared vision highlights the alignment of priorities between the two leaders, united in their commitment to development and innovation.
Through the centuries, France has positioned itself as a global power in defense, energy, engineering, diplomacy, art and culture. But modern France is also undergoing a transformation aimed at adapting its economy to new emerging industries, collectively termed the Fourth Industrial Revolution, empowering its youth, and addressing climate-related challenges.
This transformation into a greener, more technology-driven economy aligns with Saudi Arabia’s ambitions under Vision 2030. Both countries have prioritized clean energy, with Saudi Arabia emerging as a significant player in renewable energy. Its investments in solar, wind, and hydro projects are matched by its leadership in the circular carbon economy, all key pillars of its Saudi Green and Middle East Green Initiatives. These initiatives resonate with France’s own climate goals, fostering a natural synergy between the two nations.
FASTFACTS
• The number of French companies operating in Saudi Arabia has increased by more than 43% since 2020.
• French investors in KSA: Air Liquide, Airbus, Alstom, Crédit Agricole, L’Oréal, Sanofi Aventis, Thales, Total and Veolia.
Economic collaboration continues to flourish. French companies are integral to the Kingdom’s economic diversification efforts, spanning sectors such as energy, healthcare, retail and tourism. Organizations like Business France and the Saudi-French Business Council play pivotal roles in facilitating trade and investment. Initiatives like Vision Golfe, an annual gathering of French and Gulf Cooperation Council ministers, entrepreneurs and executives, further cement this partnership through dialogue and innovation by offering a platform to promote business cooperation in markets with high growth potential.
Security and stability remain central to this relationship, particularly in addressing global challenges such as the Ukraine conflict. France has sought Saudi support in navigating the war’s human and economic repercussions and its impact on global supply chains. Energy security has also emerged as a focal point, with Saudi Arabia supplying hydrocarbons to Europe while advancing its role as a clean energy provider and one of the world’s biggest investors in renewables like solar, wind and hydro.
Saudi Arabia’s investments in renewable energy resources are part of a broader environmental strategy, being implemented as part of Vision 2030, Saudi Green Initiative and Middle East Green Initiative, as well as the Kingdom’s adoption of the circular carbon economy
Regional developments will also likely figure prominently in the discussions during Macron’s visit, particularly regarding Lebanon, which remains without a president after more than two years of political paralysis.
Saudi Arabia and France have both played roles in seeking solutions to Lebanon’s crises, so any initiatives taken by them in the wake of the devastating monthslong conflict between Israel and the military wing of Hezbollah will be eagerly awaited. Partnership and consultation with Saudi Arabia are viewed by France as crucial to restoring order to the chaos in Lebanon.
With regard to the Israel-Palestine conflict, Elysee Palace is pushing for a ceasefire, release of hostages and humanitarian protections in Gaza. To this end, it has emphasized the importance of Saudi contributions through the Arab League and the Organization of Islamic Cooperation to advance a two-state solution for Palestine.
In addition to these pressing issues, Macron’s visit coincides with Saudi Arabia hosting COP16, a global platform addressing desertification under the theme “Our Land. Our Future.” Alongside this, he will attend the One Water Summit, co-chaired by France and Kazakhstan, which aims to address water resource management challenges in the face of climate change. These events underscore the commitment of both nations to environmental sustainability, a cornerstone of their partnership.
The relationship between Saudi Arabia and France is of course not limited to defense, business and energy transition. Cultural collaboration also forms a significant part of the Franco-Saudi relationship. Saudi Arabia’s rich heritage, from AlUla to Diriyah and the Sarawat Mountains, offers a canvas for joint initiatives. At the heart of this is Villa Hegra, a cultural institution in AlUla, the ancient Saudi city, established through an intergovernmental agreement in 2021.
Villa Hegra was officially established following an intergovernmental agreement signed on Dec. 4, 2021, by Saudi Arabia’s Minister of Culture Prince Badr bin Abdullah bin Farhan Al-Saud and Jean-Yves Le Drian, the then French minister of foreign affairs and current president of Afalula, the French agency for the development of AlAula. Villa Hegra serves as an incubator for artists and creators, fostering dialogue and collaboration while exploring the socio-economic impact of cultural projects on local communities.
The duality of Villa Hegra, blending Saudi and French influences, mirrors the broader partnership between the two nations. Macron’s anticipated visit to AlUla will underscore the significance of these cultural ties and highlight Saudi Arabia’s emergence as a regional hub for art and heritage. This emphasis on culture complements the Kingdom’s efforts to diversify its economy, attract global talent and position itself as a tourism and investment destination.
Amid these developments, the relationship between France and Saudi Arabia remains firmly anchored in mutual respect and shared goals. Macron’s visit offers an opportunity to build on a foundation that spans nearly two centuries, reinforcing partnerships in defense, energy, culture and economic development. The discussions in Riyadh will likely set the tone for future collaborations, as both nations continue to navigate a rapidly changing global landscape.
After Macron concludes his stay, the focus will shift to the outcomes of this visit, particularly in areas like artificial intelligence, fintech and cybersecurity. France’s upcoming AI Action Summit in February 2025 presents another opportunity to align technological ambitions, ensuring that the partnership remains dynamic and forward-looking. Whether in addressing global challenges or celebrating shared heritage, the relationship between France and Saudi Arabia stands as a testament to the enduring power of collaboration.
KSrelief distributes clothing vouchers, shelter kits to hundreds in Lebanon, Afghanistan
RIYADH: Saudi aid agency KSrelief has distributed hundreds of vouchers across Lebanon to those most in need to buy winter clothing, the Saudi Press Agency reported.
KSrelief gave out 455 vouchers in Miniyeh district, and 420 in the Beirut and Akkar governorates, to orphans and people with special needs. The vouchers enable people to buy winter clothing from approved stores.
The agency also distributed 164 shelter bags in Afghanistan, benefiting 984 people as part of a shelter project for people returning from Pakistan and those affected by this year’s floods.
Saudi envoy attends Palestine solidarity event at Arab League HQ in Cairo
- Organization’s secretary-general: Israel making life for Palestinians ‘impossible’
- International Day of Solidarity with the Palestinian People organized by UN since 1977
RIYADH: Saudi Arabia’s permanent representative to the Arab League, Abdulaziz bin Abdullah Al-Matar, attended an event marking the International Day of Solidarity with the Palestinian People at the organization’s headquarters in Cairo on Sunday.
Philippe Lazzarini, head of the UN Relief and Works Agency for Palestine Refugees, also attended, as did Saeed Abu Ali, an assistant on the Palestinian issue to Arab League Secretary-General Ahmed Aboul Gheit, among other Arab ministers and officials.
They confirmed full solidarity with the Palestinian people’s struggle to achieve their legitimate rights of freedom and independence, the Saudi Press Agency reported.
Aboul Gheit said Israeli actions in the Occupied Territories aim “at ending the Palestinian presence, liquidating the project of the Palestinian state, and forced displacement, by making the life of Palestinian society ... impossible.”
The Arab League honored UNRWA during a ceremony for its vital work in delivering aid and securing shelter for Palestinians in the Gaza Strip.
The International Day of Solidarity with the Palestinian People has been organized by the UN since 1977.
Events worldwide, including at the UN headquarters in New York, are planned yearly on Nov. 29.
