The first-ever UAEโRussia Business Forum has successfully launched in Dubai, marking a significant step towards strengthening economic cooperation and trade relations between the two nations. The landmark event was organized by the Dubai Chamber of Commerce and Industry in collaboration with the Russian Direct Investment Fund (RDIF) and Vnesheconombank.
A New Platform For Bilateral Growth
The forum serves as a new strategic platform designed to foster dialogue and build partnerships between the business communities of the UAE and Russia. It brought together high-level delegations, key decision-makers, and business leaders to explore mutual investment opportunities and areas for collaboration.
Speaking at the event, H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber, highlighted the importance of the forum in aligning with Dubaiโs strategic goals. โThe forum provides an ideal platform to strengthen our cooperation and establish new partnerships that can pave the way for a new chapter in UAE-Russia economic relations,โ he stated.
Deepening Trade Relations
The event builds on a solid foundation of existing trade between the two countries. In 2016, Dubaiโs non-oil trade with Russia reached a value of AED 9 billion, a figure that both sides are keen to expand upon. The forum aims to create new channels for trade and investment that can significantly boost these numbers in the coming years.
Sergey Gorkov, Chairman of Vnesheconombank, echoed this sentiment, noting that the forum would facilitate stronger ties and enable businesses from both countries to capitalize on emerging opportunities.
Focus On Technology And Innovation
A key focus of the discussions was on high-growth sectors critical to both economies. Key areas identified for enhanced cooperation include advanced technology, aerospace, renewable energy, logistics, and tourism. These sectors represent the future of economic development and offer substantial potential for joint ventures and knowledge sharing between UAE and Russian enterprises. The forum facilitated targeted discussions to match Russian companies with the right partners in Dubai to accelerate growth in these innovative fields.
As a result of the high-level talks and networking sessions, a total of 14 memorandums of understanding (MoUs) and strategic agreements were signed during the forum, cementing the commitment from both sides to turn discussion into tangible action.
About Dubai Chamber of Commerce and Industry
The Dubai Chamber of Commerce and Industry is a non-profit public organization whose mission is to represent, support, and protect the interests of the business community in Dubai. It does so by creating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
Source: Zawya
