KAZAN, May 14. /TASS/. Riyadh and Moscow are discussing the Saudi-Russia Franchise Exchange Window initiative, which will involve five brands from each side entering the other’s market, Chairman of Saudi Arabia’s National Franchise Committee Khalid Al-Ghamdi said in an interview with TASS.
"About five months ago, we discussed the Saudi-Russia Franchise Exchange Window initiative with the Moscow Chamber of Commerce and Industry. It envisions the launch of five Saudi brands in Russia and five Russian brands in Saudi Arabia. Each side must provide support for these brands, including logistics. <...> This applies not only to restaurants, food, and beverages, but also to higher education, engineering consulting, car rental, retail, and logistics," he said on the sidelines of the Russia-Islamic World: KazanForum international event.
This is the second time the National Committee has attended the forum in Kazan, Khalid Al-Ghamdi noted. "We are participating in this event, continuing the nearly century-long relationship between Saudi Arabia and Russia, a relationship that covers politics, economics, and culture. This is our second exhibition in Russia, and it provides an exchange between Saudi and Russian brands. We see the interest of the Moscow Chamber of Commerce and Industry and the Russian Export Center in supporting brands from both countries," he said.
The majority of franchising deals in the Middle East are concluded in Saudi Arabia where more than 1,200 brands already operate, the official stressed.
The 17th Russia-Islamic World: KazanForum is taking place from May 12 to 17 in Kazan. TASS is the event’s general information partner.