Business Ambassador of Business Russia to the UAE Maksim Zagornov held an extended meeting with the Ambassador of the UAE to the Russian Federation Mohammed Ahmed Al-Jaber

On April 8, the Ambassador Extraordinary and Plenipotentiary of the United Arab Emirates to the Russian Federation, Mohammed Ahmed Al Jaber, paid an official visit to the office of All-Russian Public Organization Business Russia in Moscow. The meeting was initiated by Maksim Zagornov, Business Ambassador of Business Russia to the UAE. During the event, issues of strengthening the Russian-UAE business partnership were discussed. Particular attention was paid to interaction within the framework of EXPO-2021.

As the business ambassador of Business Russia to the UAE Maksim Zagornov noted at the meeting, Russia and the United Arab Emirates have long-standing and very active political, trade and economic ties. Today the volume of trade between the countries amounts to about $1.7 billion. But this figure does not meet the needs of both countries. Small-scale and medium-sized businesses, including those of Business Russia, which currently unites more than 7000 fast-growing, highly efficient companies in the non-resource sector of the economy, can play an important role in increasing it.

«Business Russia’s companies have always shown great interest to the United Arab Emirates. Russian business is attracted by the favorable geographical location of the UAE, a loyal tax regime, availability of more than 30 free economic zones with comfortable business conditions, and a well-developed infrastructure. Taking into account the fact that this year the World Exhibition EXPO-2021 will take place in Dubai, interest to the UAE has increased even more: the exhibition can serve a catalyst for launch of many joint projects», – Maksim Zagornov emphasized.

Mohammed Ahmed Al Jaber confirmed that EXPO-2021 will become a platform for productive dialogue between entrepreneurs from different countries. The ambassador listed the priority areas of cooperation for the UAE: food security, petrochemical industry, healthcare and pharmaceutical industry, IT and artificial intelligence, industrial sector. The diplomat also named several factors that prevent Arab investors from entering the Russian market more actively: lack of benefits and privileges, no databases of investment projects and information on the investment climate in Russia, as well as understanding of the specifics of investing in the Russian Federation.

The office of the business ambassador of Business Russia to the United Arab Emirates is currently actively engaged in elimination of such information barriers between entrepreneurs of the Russian Federation and the United Arab Emirates. This structure helps the companies of the business association when entering the Emirates market, and the UAE companies when looking for reliable partners in Russia. As Maksim Zagornov noted, a lot of work has been done in recent years: Memorandums of cooperation have been signed with the Sharjah and Abu Dhabi Chambers of Commerce, several business missions to the UAE have been held, two offices of the business ambassador have been opened in Dubai and Abu Dhabi. The head of the representative office in Abu Dhabi Alaa Zourob greeted the participants of the meeting via videoconferencing and assured entrepreneurs of his readiness to provide comprehensive assistance and support.

Within the framework of the meeting, the businessmen of Business Russia presented their business projects to the delegation from the UAE. As Pavel Titov, President of Business Russia, noted, the possibilities of business cooperation between Russia and the United Arab Emirates are practically endless. «Today’s meeting lays a good foundation for further work. So far, the political will for friendship and cooperation between the states is overtaking the effectiveness of international trade and business partnerships. We would like Business Russia to act as a tool for development of such cooperation», – noted Pavel Titov.

Business Ambassador of Business Russia to the UAE Maksim Zagornov expressed his hope that this meeting with the Ambassador of the United Arab Emirates to the Russian Federation will facilitate intensifying if the relations between the countries after a difficult period associated with the coronavirus epidemic.

Documents:

• UAE Economy at a Glance
• UAE Federal Law on Foreign Direct Investment
• Организация бизнеса в свободных зонах ОАЭ
• Организация бизнеса на основной территории ОАЭ

Media:

• UAE Ambassador to Russia meets with Business Russia community