14Feb2005 Saudi, Russian Officials Review Economic and Trade Cooperation

Riyadh, 14 Feb 2005

Minister of Finance Dr Ibrahim Al-Assaf held a meeting here today with Head of Russia's Federal Agency for Energy Affairs Serji Oghanisian. They reviewed aspects of economic and trade cooperation between the Kingdom of Saudi Arabia and Russia.

They also reviewed issues pertaining to the next meeting of the Saudi-Russian Joint Commission, and underscored the importance of completion of the required arrangements for signing agreements for protection of investments, and avoidance of double-taxation between the Kingdom and Russia.

They noted that the two agreements will encourage the Saudi and Russian businessmen to implement investment projects in the Kingdom and Russia.

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