Saudi Industry Minister Meets Russian Counterpart To Discuss Industrial Collaboration Opportunities

During a visit to Russia, Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Alkhorayef, engaged in discussions with Anton Alikhanov, the Russian Federation's Minister of Industry and Trade. Accompanying Alkhorayef was a notable Saudi delegation, including Abdulrahman Al-Ahmad, the Saudi Ambassador to Russia, and several key executives from Saudi industrial bodies.

The meeting focused on enhancing cooperation in industrial development and manufacturing localization. Both ministers explored potential partnerships in mining and other sectors. Alkhorayef highlighted Saudi Arabia's interest in Russia's expertise in heavy equipment, chemicals, and advanced materials. These areas align with the Kingdom’s National Industrial Strategy.

Participants discussed forming investment partnerships to leverage opportunities in technology transfer and innovation. They reviewed quality investment prospects within Saudi Arabia's burgeoning industrial sectors. The aim is to facilitate investors' journeys by providing necessary enablers for successful ventures.

Both sides expressed their commitment to boosting non-oil exports between the two nations. This initiative is part of a broader strategy to enhance trade growth and achieve economic diversification for both countries. The discussions align with the objectives outlined in Saudi Vision 2030.

Alkhorayef extended an invitation to his Russian counterpart to attend the Future Minerals Forum (FMF) in Riyadh from January 13–15, 2026. This event aims to foster international collaboration in the minerals sector. It reflects ongoing efforts by Saudi Arabia to strengthen global industrial partnerships.

The meeting underscored the importance of building effective investment collaborations. It also emphasized knowledge exchange and industrial research as key components for future growth. By focusing on these areas, both countries aim to capitalize on available opportunities for mutual benefit.

This engagement marks another step towards expanding bilateral cooperation between Saudi Arabia and Russia. It highlights the Kingdom’s dedication to fostering international ties that support its long-term economic goals.

With inputs from SPA