PRNewswire/ The signing ceremony took place during the plenary session of Russia-SaudiBusiness Forum, held during the forum exhibition. The exhibition was conducted with the support ofthe RF CCI, RADS, the Council Chamber of the Kingdom of Saudi Arabia (KSA), the Jeddah Chamber, theEmbassy of Russia in the KSA, the Consulate General of Russia in Jeddah, the KSA Embassyin Russia, RF Foreign Ministry, Ministry of Economic Development of Russia, the St. PetersburgInternational Economic Forum Foundation, Representatives of Russia of the Organisation of theIslamic Conference (OIC), the all-Russia public organization Women in Business, and the Ministry ofCulture of Tatarstan.
The purpose ofthe Memorandum is to lay the foundation for cooperation between the St. Petersburg ternationalEconomic Forum and the Jeddah Economic Forum, and aims to develop an ongoing dialogue with the participation of Russian and Saudi government officials and business representatives. TheJeddah Economic Forum is held annually and is the leading platform in the region to discuss issuesof economic development and
cooperation.
Signing of the Memorandum demonstrates that theparties intend to develop Russo-Saudi dialogue, both at the St. Petersburg International EconomicForum and at the Jeddah Economic Forum. This event has attracted the attention of the Saudibusiness community, which still knows very little about Russia and its investmentopportunities.
The first Russia-Arab world business dialogue was held in June 2009 during the St. Petersburg International Economic Forum, and was organized by the Russo-ArabBusiness Council. The business dialogue aroused great interest among forum participants andgathered a significant audience. The event was attended by Amr Al-Dabbagh, the founder and firstchairman of the Jeddah Economic Forum, and currently chairman of the General InvestmentOrganization of the Kingdom of Saudi Arabia; and Muhammad Mazen Baterdzhi, first Vice-President ofthe Jeddah Chamber.