A Ceremony to Sign the Memorandum of Understanding Between the St. Petersburg International Economic Forum and the Jeddah Economic Forum was Held

ST. PETERSBURG, Russia - The signing ceremony took place during the plenary session of Russia-Saudi Business Forum, held during the forum exhibition. The exhibition 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 Tatarstan.

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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 cooperation.

Signing of the Memorandum demonstrates that the parties intend to develop Russo-Saudi dialogue, both at the St. Petersburg International Economic Forum 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 interest 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 Organization of the Kingdom of Saudi Arabia; and Muhammad Mazen Baterdzhi, first Vice-President of the Jeddah Chamber.

About the St. Petersburg International Economic Forum:

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The St. Petersburg International Economic Forum is organized with the support and involvement of the President of the Russian Federation. Every year, it brings together world political and business leaders, as well as representatives of expert community to discuss the most pressing issues of Russia’s and international economy.

Registration is now open for the next Forum in 2010:

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Source: St. Petersburg International Economic Forum Foundation

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