MOSCOW, October 21. /TASS/. Russia and Saudi Arabia intend to expand trade regimes and stimulate investment, while considering cooperation within OPEC+ an unconditional priority, Maxim Maximov, Acting Director of the Department of the Middle East and North Africa at the Russian Foreign Ministry, said at the international conference "Russia - Saudi Arabia: The First Century of Friendship."

"Today, we face ambitious tasks. We should not only preserve the accumulated potential but also bring our privileged partnership to a qualitatively new level. This means deepening integration processes, expanding preferential trade regimes, stimulating investments, aligning regulatory systems, and developing human capital," the diplomat said.

"Cooperation within OPEC+ remains an unconditional priority to ensure stability and predictability in global energy markets, which is of particular importance given the current global turbulence," Maximov noted.

"Saudi Arabia is one of Russia's most important partners in the Middle East," the diplomat stressed. "We will continue to work on the comprehensive development of our bilateral relations," he added.

Diplomatic relations with Saudi Arabia were established on February 12, 1926. The two sides are celebrating their centenary jubilee this year.