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Abu Dhabi: The Saudi Ministry of Environment, Water and Agriculture has confirmed the approval of the Russian authorities for the entry of three Saudi aquaculture companies into the Russian market, local media reported.

Saudi Arabia is is expected to export about 10,000 to 15,000 tonnes of fish and shrimp, worth 293 million riyals annually, according to the report.

The ministry said the agreement included exporting to five countries, namely: Belarus, Armenia, Kazakhstan and Kyrgyzstan.

The approval of the Russian export authorities for the Saudi aquaculture companies came after an agreement signed between the Saudi Environment Ministry and the Ministry of Agriculture in Russia.

The agreement signed on October 14, 2019 aims to increase the export of agricultural food products, livestock and fish, exploit the available opportunities to attract investments, cooperate in plant and animal health measures, import and export products, encourage the private sector to enter into investments, and to facilitate the exchange of information on issues related to production and marketing, to increase the volume of agricultural and food trade exchange between the two countries by 2024.