SAUDI ARABIA'S AMBASSADOR ON PROGRESS IN POLITICAL AND ECONOMIC RELATIONS WITH RUSSIA

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SOCHI, October 9 (RIA Novosti) - Saudi Arabia's ambassador to Russia Mohammed Hasan Abdelwali points out the progress in political and economic relations with Russia.

"Our relations, especially, in economic sphere, have been rapidly developing in the last two years and we have reached a certain success," the ambassador said in his interview with RIA Novosti in Sochi, the Black Sea resort, which hosts the Kuban-2004 international economic forum.

The diplomat expressed hope that Russia and Saudi Arabia will find new cooperation areas after the second session of the intergovernmental commission, which is to be held in Riyadh in the first quarter of 2005. Mohammed Hasan Abdelwali believes that the fuel and energy sphere is a most promising cooperation area.

"The agreement on the concession of gas fields between the Russian company LUKoil and Saudi Arabia's Ministry of Petroleum and Mineral Resources is an important result of bilateral cooperation," he said.

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