St. Petersburg International Economic Forum: The Kingdom is the guest of honor
The Kingdom of Saudi Arabia is participating as a “guest of honor” in the 29th St. Petersburg International Economic Forum, held in the Russian Federation. This high-level participation underscores the Kingdom’s prominent position on the international economic stage and its leading and pivotal role in promoting global economic cooperation and building strategic, cross-continental partnerships.
A century of diplomatic relations and strategic partnership
The Kingdom's participation in this session is of exceptional historical significance, coinciding with the 100th anniversary of the establishment of formal diplomatic relations between Riyadh and Moscow, which began in 1926. For a century, Saudi-Russian relations have witnessed continuous development and high-level coordination across various fields, particularly in the energy sector through the OPEC+ alliance, which directly contributes to the stability of global oil markets. This special representation at the forum crowns a long history of joint economic and political cooperation.
Saudi Vision 2030 at the heart of the St. Petersburg International Economic Forum
This global platform provides the Kingdom with an opportunity to showcase the significant achievements of Saudi Vision 2030 in diversifying national income sources and reducing dependence on oil. The participating Saudi delegation aims to highlight promising investment opportunities in vital sectors such as mining, transportation and logistics, tourism, and advanced technologies. The participation also seeks to open new avenues for cooperation between Saudi, Russian, and other international companies, and to build strong bridges with leading international investors.
Extensive governmental and investment representation
The forum features participation from leading government entities and national companies in the Kingdom, reflecting the comprehensiveness of Saudi Arabia's economic vision. Among the most prominent participants are the Ministry of Energy, the Ministry of Industry and Mineral Resources, the Ministry of Investment, the Ministry of Transport and Logistics, and the Ministry of Environment, Water and Agriculture. The delegation also includes the General Authority for Foreign Trade, the General Authority for Small and Medium Enterprises (Monsha'at), and the Heritage Commission, along with the global oil giant Saudi Aramco and the Saudi Electricity Company, lending significant investment and commercial momentum to the event.
Dimensions of the Forum's Economic Impact on the International Stage
The forum, held this year under the theme “Shared Values: The Foundation for Growth in a Multipolar World,” is one of the most important economic platforms globally. Its significance extends beyond the local and regional spheres, impacting the international economy as a whole. The Saudi-Russian dialogue contributes to forging strategic understandings that support the stability of global supply chains and foreign direct investment flows. In light of current geopolitical shifts, this rapprochement represents a crucial step towards strengthening multipolarity and achieving sustainable and inclusive economic growth that benefits the entire international community.
