Ceremony to Sign the Memorandum of Understanding Between the St.

Published October 27th, 2009 - 10:35 GMT

 The signing ceremony
took place during the plenary session of
Russia-Saudi Business Forum, held during the forum exhibition. The
was conducted with the support of the RF CCI, RADS, the Council Chamber of
the Kingdom of Saudi Arabia (KSA), the Jeddah Chamber, the Embassy of Russia
in the KSA, the Consulate General of Russia in Jeddah, the KSA Embassy in
Russia, RF Foreign Ministry, Ministry of Economic Development of Russia, the
St. Petersburg International Economic Forum Foundation, Representatives of
Russia of the Organisation of the Islamic Conference (OIC), the all-Russia
public organization Women in Business, and the Ministry of Culture of




    The purpose of the Memorandum is to lay the foundation for cooperation
between the St. Petersburg International Economic 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. The Jeddah Economic Forum is held annually and is the
leading platform in the region to discuss issues of economic development and


    Signing of the Memorandum demonstrates that the parties intend to
Russo-Saudi dialogue, both at the St. Petersburg International Economic
and at the Jeddah Economic Forum. This event has attracted the attention of
the Saudi business community, which still knows very little about Russia and
its investment opportunities.


    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-Arab Business Council. The business dialogue aroused great
among forum participants and gathered a significant audience. The event was
attended by Amr Al-Dabbagh, the founder and first chairman of the Jeddah
Economic Forum, and currently chairman of the General Investment
of the Kingdom of Saudi Arabia; and Muhammad Mazen Baterdzhi, first
Vice-President of the Jeddah Chamber.

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