‘Russian firms flocked to UAE market in recent years’

Thousands of Russian companies are engaged in one way or another in commercial activities in the UAE in various sectors…reports Asian Lite News

Sergey Gorkov, Chairman of Russia-UAE Business Council, said that a surge of Russian companies, spanning a wide range of industries, have flocked to the UAE market in recent years.

According to TASS News Agency, Gorkov made the remarks on the sidelines of the St. Petersburg International Economic Forum which kicked off today, explaining that thousands of Russian companies are engaged in one way or another in commercial activities in the UAE in various sectors, including information technology, pharmaceuticals, manufacturing, oil & gas, and petrochemicals.

He added that the Russian Federation and the United Arab Emirates are working to increase the volume of their trade exchanges, which, he said, will approach $10 billion by the end of this year.

The four-day 27th edition of the event runs under the theme ‘The Foundations of a Multipolar World – The Formation of New Areas of Growth’.

Meanwhile, Russian businesses consider the UAE market as a potential hub to export to third countries, localise, cooperate and trade with the countries of the Middle East and Africa.

Russian Export Centre (REC) Representative in the UAE Jabbori Najibullah acknowledged the significant interest of Russian companies in the UAE market, as well as the interest from the Emirati side.

He mentioned the presence of guests and partners from the UAE Ministry of Economy, Masdar, Dubai Internet City and different commercial structures.

Anton Nazarkin, International Development Director in VisionLabs, mentioned that they consider Dubai the best place in the Middle East for opening the office. VisionLabs opened its office in Dubai in 2019. Nazarkin stressed that the UAE is the best place for business in terms of logistics and legal practices.

“We think that government provides a lot of initiatives in terms of registering companies and conducting business from the free zones. We look forward to expanding our presence in the region through the UAE”, he added.

Alexey Khalezov, Head of Product at Neiry, said that the UAE market is very interesting for them because they develop innovative products such as brain-computer interfaces and hope to collaborate with local companies and producers.

Ivan Chernikov, Product Manager from Synera, acknowledged that the UAE is the best place to expand business.

“UAE is a very important international platform for expansion of our business, because we can find contacts, partners, new leads and new projects here for the expansion of our business”, he said.

Russian Export Centre (REC) is a state-owned exports sector development institute. REC consolidates a group of companies, which offer a wide range of financial and non-financial support tools to Russian exporters. Two days of business-matching, thematic round-table meetings and pitching sessions will help Emirati guests get better acquainted with Russian products and breakthrough solutions.

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