Held in Riyadh, the Innoprom exhibition serves as an important platform for strengthening business ties between Russia and Saudi Arabia. According to Artur Leer, Vice President of the Association of Exporters and Importers and Managing Partner of Lex Alliance law firm, the event primarily facilitates active and meaningful business engagement.
According to Leer, many Russian entrepreneurs still have a limited understanding of the Saudi market, despite its substantial financial and investment potential. The exhibition helps close this gap by highlighting the depth of mutual interest and shifting cooperation from theory to practical implementation. The involvement of business leaders, investors, regional authorities, and federal agencies highlights the comprehensive nature of this engagement.
Following a meeting between the Association of Exporters and Importers, the Saudi Arabian Chamber of Commerce and Industry, and the Kingdom’s Ministry of Investment, key areas of cooperation and mechanisms for promoting Russian expertise in the Saudi market were identified. Preliminary agreements on reciprocal business delegations to Russia lay the groundwork for strengthening import-export relations and launching joint projects.
“At the same time, intensive engagement with business representatives and industrial zones in both countries made it possible to achieve results in a short timeframe that would normally require months of negotiations,” Artur Leer noted. “As the number of delegations grows and meetings become more frequent, a portfolio of concrete agreements is taking shape – one that can reinforce trade cooperation and boost bilateral trade turnover. Participants view the further expansion of this engagement as a natural continuation of the work already underway.”