Over 270 Russian Companies Participate in INNOPROM Saudi Arabia

The International Industrial Trade Fair "INNOPROM. Saudi Arabia" has concluded in Riyadh. The event took place from February 8 to 10 at The Arena venue, covering an exhibition area of 6,000 square meters. Over the course of three days, the exhibition welcomed more than 5,000 visitors.

The exhibition brought together representatives from government authorities, subordinate institutions, businesses, unions, associations, and chambers of commerce. In total, more than 270 Russian companies and over 650 Saudi companies and organizations participated in the event. The exhibition was held with the support of the Ministry of Industry and Trade of the Russian Federation, the Ministry of Investment of the Kingdom of Saudi Arabia, and the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia. The event was organized by Formika Event.

The central event of the exhibition was the Main Plenary Session: "Russian-Saudi Cooperation: Drivers of Industrial and Investment Development." The session brought together Anton Alikhanov, Minister of Industry and Trade of the Russian Federation; Bandar Al-Khorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia; Abdullah Al-Dubaikhi, Deputy Minister of Investment of the Kingdom of Saudi Arabia; Goar Barseghyan, Member of the Board (Minister) for Industry and Agro-Industrial Complex of the Eurasian Economic Commission; Rustam Minnikhanov, Head of the Republic of Tatarstan; Alexey Russkikh, Governor of the Ulyanovsk Region; Veronika Nikishina, CEO of the Russian Export Center; and Alexey Repik, Chairman of Business Russia.

The panelists discussed the importance of bilateral cooperation between Russia and Saudi Arabia, highlighting the high volume of mutual trade and identifying promising areas for joint efforts across key industrial sectors.

"We expect mutual trade turnover to exceed $4 billion by the end of 2025. While raw materials and agriculture form the foundation of our trade, we see great potential in electric transport cooperation. Russian manufacturers are steadily increasing their expertise in this field," emphasized Anton Alikhanov, Russia's Minister of Industry and Trade.

In turn, Bandar Al-Khorayef, Saudi Arabia's Minister of Industry and Mineral Resources, stated that the Kingdom is following Russia's achievements in various fields with great interest, outlining key areas for future partnership.

"Industrial cooperation is one of the highest priorities for partnership between our countries. Saudi Arabia is determined to continue implementing its national program to localize various types of manufacturing and strengthen supply chains," noted Bandar Al-Khorayef.

The heads of the delegations also took part in an official tour of the Russian-Saudi exposition, reviewing technological developments at the stands of Rostec, Rosatom, CRPT, REC, the Republic of Tatarstan, the governments of Moscow, St. Petersburg, and Krasnodar Krai, as well as projects at the collective Saudi Made and Invest Saudi stands.

Furthermore, several agreements were signed between Russian and Saudi organizations, including a cooperation agreement between the Investment and Venture Fund of the Republic of Tatarstan and Tadaamun Investment L.L.C., and an agreement between the Saudi industrial and investment holding Alfaddaghi Holding and a number of leading technology companies from Moscow.

On the final day of the exhibition, Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, held a meeting with Russian business leaders. The meeting focused on the investment, trade, and industrial potential of the Saudi market.

The next international INNOPROM exhibition will take place in Uzbekistan from April 20 to 22.