Minister of Finance Ibrahim Abd al-Aziz Al-asaf of Saudi Arabia

Oct 15 (Interfax) - Saudi Arabia and Russia have every opportunity to develop cooperation, first of all in the trade and MINISTER investment sphere, Saudi Minister of Finance and National Economy Ibrahim Abd al-Aziz al-Asaf said in a Tuesday interview with Interfax.

Al-Asaf is co-chairman of a Russian-Saudi intergovernmental commission on trade economic cooperation, which is holding its first meeting in.

Al-Asaf said that the Arab countries face several challenges: economic openness, international trade and an increase in competition as well as challenges of education and unemployment.

On the sideline of the annual meeting, the Saudi Development Fund granted Yemen the amount of $225 million for three development projects, the head of the fund, Ibrahim Abdul Aziz al-Asaf said during the signing of the agreement with Minister al-Arhabi on Wednesday.