Al-Omar invited Russian companies to identify opportunities in the Saudi market.
Saudi Aramco is all set to open an Indian subsidiary as the oil giant looks to tap increasing fuel demand in the world's third largest consumer and expand market, reports quoting sources close to the development said.
It could also "affect efforts to establish security and stability in the region, as well as efforts to fight against terrorist organizations and their activities", the official added. Like Turkey, it appears that Saudi Arabia has come to the same page as Russia with regards to Syria's immediate future, especially with regards to the position of Bashar al-Assad. King Selman, Russian president Vladimir Putin's meeting with Syrian and Iraqi territorial integrity was a highlight.
For his part, Al-Qasabi thanked the Russian government for hosting the forum with the objective of developing trade and investment exchanges between the two countries.
The source estimated that size of the Saudi delegation to Russia to be more than 100 people, adding that the visit will last four days.
Russia's Deputy Prime Minister Dmitry Rogozin announced (Russian News Agency TASS) announced that negotiations have begun with Saudi Arabia for the sale of the Almaz-Antey S-400 Triumf long-range surface-to-air missile (SAM) system., though a final decision has yet to be reached.
Saudi Aramco is discussing several investment opportunities with Russian firms but there are no current plans to take a stake in Novatek's liquefied natural gas (LNG) project, Aramco Chief Executive Amin Nasser said on Thursday. In his speech, Novak pointed out that the areas of cooperation between the Kingdom and Russia are proceeding according to the plan and vary in the sectors of industry, health, infrastructure, agriculture, tourism, technology, nuclear energy and desalination, in addition to cooperation in the fields of oil and gas.
Saudi Arabia is the most prominent oil-producing member of OPEC, making it the organization's de facto leader. It is unlikely that Russia will part from the technologies necessary to reproduce the system, it is a marquee and high-value defence asset.