Saudi Arabia, Russia Sign $1.28bn Deals
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- Veterinary vaccine production will be localised
- Poultry breeding and livestock supply chains targeted
- Saudi seafood exports to expand via Russian networks
Saudi Arabia and Russia signed 13 strategic agreements and memoranda of understanding worth 4.8 billion Saudi riyals, as the two countries seek to deepen economic and investment cooperation.
The deals concluded on the sidelines of the St Petersburg International Economic Forum, where officials and leading business figures from both countries gathered to expand trade ties and explore new areas of collaboration.
According to officials, the agreements span key sectors aimed at boosting long-term economic partnership and strengthening supply chains between the two nations.
A significant portion of the deals focuses on agricultural and food security cooperation. This includes plans to localise and develop veterinary vaccine manufacturing to improve animal health and biosecurity, alongside initiatives to develop and multiply high-yield poultry breeds to support domestic production and enhance self-sufficiency.
The agreements also cover feed supply chains and livestock inputs, aiming to stabilize and expand the animal husbandry sector through more reliable and diversified sourcing networks.
In the fisheries sector, Saudi seafood exports are expected to increase under strategic arrangements with Russian importers and global distribution companies, opening new international markets for Saudi marine products.
Officials said the package of agreements reflects a shared interest in strengthening economic diversification and expanding commercial cooperation beyond traditional sectors.
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