Saudi Arabia Joins St. Petersburg International Economic Forum 2023 to Explore Innovative Pathways to Growth.

Riyadh – Asdaf News:

Saudi Arabia is set to join the world’s largest economic forum as it participates in the upcoming St. Petersburg International Economic Forum (SPIEF) 2023. The event, which will be held on June 14-17, 2023, is a global platform for leaders, policymakers, and businesses to discuss key economic issues and trends.

SPIEF 2023’s seeks to explore innovative ways to promote economic growth and address global challenges. The forum is expected to cover a wide range of topics, although the full list of topics will not be known until May.

The Russian Ambassador to Saudi Arabia, Sergey Kozlov, recently stated that “there is plenty of room for growth in bilateral trade between Russia and Saudi Arabia, and that the two countries intend to reach an initial target of US$5 billion.” Bilateral trade and economic relations between the two countries are characterized by positive dynamics, and Moscow sees Riyadh as a promising trade and economic partner whose role in global and regional affairs is steadily growing.

Saudi Arabia is a vital player in the global economy, with a GDP of over $800 billion in 2020. The Kingdom is undergoing a major economic transformation through its Vision 2030 plan, which seeks to diversify its economy, reduce its dependence on oil, and create new opportunities for businesses and investors.

SPIEF 2023 offers an opportunity for Saudi businesses to showcase their strengths and explore new partnerships with global counterparts. The event will provide a platform for Saudi businesses to network, learn about new trends and opportunities, and share their experiences and perspectives.

Saudi Arabia and Russia have enjoyed a long-standing relationship, with both countries recognizing the potential for increased economic cooperation. In 2021, Saudi Arabia and Russia signed several agreements to strengthen their bilateral ties, including in the areas of energy, technology, and investment.

SPIEF 2023 is a must-attend event for businesses, policymakers, and thought leaders who want to stay ahead of the curve and shape the future of the global economy. With over 14,000 participants, including over 1,700 business leaders, SPIEF 2023 offers an unparalleled opportunity to connect, collaborate, and create new value. Saudi businesses can take advantage of this opportunity to enhance their global presence and drive innovation and growth.

With its participation in SPIEF 2023, Saudi Arabia is poised to further enhance its economic relationship with Russia and the global community. The event presents an exciting opportunity for Saudi businesses to showcase their capabilities and explore new avenues for collaboration and growth. The Saudi delegation will be looking forward to meeting and interacting with other attendees at SPIEF 2023, and to furthering the country’s global economic goals.