Industry Minister Bandar Alkhorayef Engages With Russian Counterpart To Discuss Industrial Collaboration Opportunities

Minister of Industry and Mineral Resources Bandar Alkhorayef recently visited Russia, where he met with Anton Alikhanov, the Russian Federation's Minister of Industry and Trade. Accompanying Alkhorayef was a notable Saudi delegation, including Saudi Ambassador Abdulrahman Al-Ahmad and several key executives from Saudi industrial organizations.

The discussions between the ministers focused on enhancing cooperation in industrial development and manufacturing localization. They explored potential partnerships in the mining sector as well. Alkhorayef highlighted Saudi Arabia's interest in utilizing Russia's expertise in sectors like heavy equipment, agricultural machinery, chemicals, automotive, and advanced materials.

Both sides expressed a strong commitment to developing non-oil exports and easing their access between the two nations. This initiative aims to boost trade growth and achieve economic diversification for both Saudi Arabia and Russia. The meeting aligns with Saudi Vision 2030's goals of expanding international industrial partnerships.

During the meeting, participants reviewed significant investment opportunities within Saudi Arabia's promising industrial sectors. They discussed enablers designed to facilitate investors' journeys. The focus was on building effective investment partnerships that leverage knowledge transfer, innovation, and industrial research.

Alkhorayef extended an invitation to his Russian counterpart to attend the Future Minerals Forum (FMF) in Riyadh from January 13–15, 2026. This event is part of ongoing efforts to strengthen bilateral cooperation in line with Saudi Vision 2030 objectives.

The meeting underscored the Kingdom’s dedication to fostering international collaboration in industry and trade. By leveraging available opportunities, both countries aim to enhance their economic ties through strategic partnerships.

With inputs from SPA