GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments

 
  Share

Yekaterinburg, July 12, 2017: H.E. Engr. Sultan bin Saeed Al Mansoori, Minister of Economy, recently discussed prospects for future economic and industrial cooperation with the Russian Federation under the framework of the latter's bilateral relations with the UAE, other GCC countries, and the entire region.

The Minister met with senior officials of the Russian Government while heading an economic and trade delegation from the UAE in a visit to the Russian Federation to participate in the 8th International Industrial Trade Fair (Innoprom) running from July 10 to 13, 2017 at the Russian city of Yekaterinburg.

The delegation included H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry; H.E. Abdullah Sultan Alfan Alshamsi, Assistant Undersecretary for Industrial affairs; and other government and private sector representatives.

During the meeting, the two sides praised the current level of cooperation between the two countries, emphasizing the importance of further enhancing ties in several areas of common interest – including the transformative industries, petrochemicals and aluminum, advanced technologies, and the fields of innovation, scientific research, renewable energy, agriculture and food.
H.E. Al Mansoori underscored the importance of healthy economic and trade relations between the two friendly countries, pointing out that the current development in foreign trade indices reflects their mutual desire to develop effective cooperative mechanisms in all vital sectors.

He further mentioned that non-oil trade between the UAE and Russia has been reaching high levels, noting a record USD 2.1 billion in commercial exchange for 2016 which he said is likely to increase significantly in light of existing and upcoming mutual opportunities for the two countries.

Over the last two years, the UAE has welcomed more than 600,000 Russian visitors. The UAE's national carriers operate 56 weekly flights between the two countries.

The Minister reviewed priority areas under the UAE's economic agenda, specifically citing seven sectors identified by the National Innovation Strategy, namely energy, transport, technology, education, healthcare, water and space. He emphasized that the UAE is keen to benefit from Russia's world-leading experience in the fields of industry and scientific research and development.
H.E. Al Mansoori praised Innoprom as a distinguished international platform for learning about the latest industrial technologies in a number of vital disciplines and advanced Russian technology in the fields of transport and transformative industries.

The Minister also invited Russian businessmen and investors to expand their presence in the UAE market and benefit from available investment opportunities as well as incentives and advantages enjoyed by locally operating companies.

For his part, H.E. Denis Manturov, the Russian Minister of Industry and Trade, emphasized the distinguished economic relations between the UAE and Russia, pointing out his country's keenness to jointly work on developing more cooperative prospects and moving on to more advanced levels.

H.E. Manturov added that there are many areas of cooperation that offer promising opportunities for establishing partnerships and enhancing mutual investments between the two sides. He pointed out that the Russian side is keen to enhance the level of its agricultural and industrial exports to the UAE and the region in general. He emphasized the importance of working on enhancing linkages between the business communities of both sides to review major investment opportunities.

Gulf-Russian meeting to enhance prospects for future cooperation
H.E. Al Mansoori joined H.E. Zayed Bin Rashid Alzayani, Minister of Industry, Commerce and Tourism of the Kingdom of Bahrain; H.E. Abdullatif bin Rashid Al Zayani, Secretary General of the Gulf Cooperation Council; and H.E. Abdul Karim Taqi Abdul Karim, General Manager of the Public Authority for Industry in Kuwait during a meeting with Russian representatives on the sidelines of their participation in Innoprom. The gathering included senior officials of the Russian Ministry of Industry and Trade headed by Undersecretary Sergey Tsip and representatives of the economic sectors of the Russian Federation.

The joint Gulf-Russian meeting tackled areas of economic and trade cooperation and means of investing in the potential of the two sides in establishing mutually beneficial industrial and development projects that can further enhance existing economic partnerships.
The two sides discussed investment opportunities available in several vital industries, most notably the aluminum trade where GCC countries have made great progress at the regional and international levels. The meeting also considered the Russian proposal on the establishment of an international organization for regulating the global aluminum industry, with the Kingdom of Bahrain expressing its willingness to host the headquarters of the proposed organization.

The Russian side emphasized its interest in boosting industrial exports to the region and further expanding and diversifying trade, pointing out that Russia is in the process of establishing a free industrial zone in Egypt. The Ministers of the GCC expressed their appreciation for Russia's efforts to support the development plans of Egypt as well as their region.

During the meeting, H.E. Al Mansoori underlined the importance of developing various aspects of Gulf-Russian cooperation in order to mutually benefit from the outcomes and advance the region's development objectives.

H.E. also expressed the UAE's support for the proposed establishment of an organization for regulating the global aluminum industry with the Kingdom of Bahrain as its recommended base. He pointed out the importance of encouraging cooperation in the aluminum and petrochemical industries as the Gulf and Russia enjoy many promising opportunities in these fields.

The Minister further stated that the UAE is willing to organize a forum in Dubai between their Ministers of Trade and Industry and private sectors to discuss various economic concerns between the GCC and Russia. The offer was welcomed by the Russian side which recommended further coordination between the Russian Government and the Secretariat General of the Gulf Cooperation Council and Chambers of Commerce on the matter.

He also noted that the UAE was one of the first countries to support Egypt, emphasizing the necessity of working towards ensuring the success of all development efforts in Egypt, which he said will have a positive impact on the region.

The Russian side warmly welcomed the Gulf delegation and thanked them for accepting the invitation to participate in Innoprom. They commended the progress achieved in strengthening Gulf-Russian relations during the past few years.

The Russians added that the strategic dialogue between the Russian Federation and the GCC has been very successful and has had a clear impact on strengthening their relations and developing economic cooperation. They shared that their bilateral trade exceeded USD 2.5 billion and expressed their country's desire to expand economic cooperation with GCC countries.

They further expressed their country's appreciation for the GCC's support for the Russian proposal to establish an international organization for regulating the global aluminum industry, pointing out Russia's interest in boosting its industrial exports and expanding its trade with the region.



Posted by : GoDubai Editorial Team
Viewed 3709 times
Posted on : Wednesday, July 12, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Abu Dhabi National Takaful's Osama Abdel-Raouf Abdeen named among GCC's Top CEOs
Next Story : Brazilian dairy companies export USD 15 million worth of product to Arab region in first 5 months of...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Sports Bras Banishing Bounce by 83% arrive in store
Malabar Gold & Diamonds makes historic gain Opens 11 showrooms in a day across 6...
IKEA Welcomes Children in-store to Spread Love for the Arabic Language as Part o...
AIGNER Love
We Sheet You Not! Foreo Announces End of Face Mask Epidemic
Transform Your Skin In 2018 with QNET's Revolutionary Elixa Skincare
New Year, New Skincare!
Experience the ultimate beauty extravaganza as MyBeautyFest kicks off with the i...
Michael Kors Presents Spring 2018 Watches
Signature Scents for Your Home
Spring/Summer 18' Beauty Picks from Missha Cosmetics
Garden Party Style and Cult Classics: Swatch Launches Spring-summer 2018 Collection
Marine Torpilleur Military made for men who chart their own destiny
Corum Bubble Art For Those Who Appreciate A Work Of Art
Shimmering Gilda takes on a silvery sheen
Land Rover's 70th Anniversary Begins With Restoration of ‘Missing' Original 4x4
Mido's Baroncelli Prisma - A sparkling play of prisms enhanced by 51 diamonds'
New Year – New Savings now with Al-Futtaim Honda
Samsung Delivers Vision for Open and Intelligent IoT Experiences to Simplify Eve...
Malabar Gold & Diamonds strengthens its global position as a leading jewellery r...
Samsung Electronics' 2018 Smart TVs Become First to be Industry-Certified for En...
The Trésor Collection
Dubai Culture Organises ‘Carnival of Ideas'
EUROSTAR presents seven global tech majors at CABSAT 2018
ESC's INDIASOFT to Bring Over 400 ICT Foreign Buyers To Bengaluru
Nissan reaffirms importance of electrification at World Future Energy Summit
“12th Edition of SNF's Family Fun Fair”
Nissan and NASA extend research into autonomous mobility services
Dubai Tour team line-up announced: 16 teams of seven riders at the start
Defender Lives on: Land Rover Launches V8 Edition To Celebrate 70th Anniversary
Governments to Signal Support for IRENA Key Role in Global Energy Transformation
Womenswear Preview and Showroom Connection: WHITE Man & Woman's Formula Bets on ...
Dallas Picks Ericsson for Smart Cities Traffic Solution
Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Bil...
Mashreq Bank offering credit cards for every passion
The Balmain de Balmain Moon Phase Collection - loves personalisation to the moon...
LG's Award-winning 4k Uhd Projector to Debut at CES 2018
HH Sheikh Hasher Bin Maktoum Al Maktoum opens CABSAT 2018
His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum Visits du's Stand on ...
Masdar unveils locally manufactured all-electric Eco-Bus at Abu Dhabi Sustainab...
Dubai Outlet Mall celebrates DSF 2018 with amazing attractions for shoppers
Dubai Health Authority Director-General chairs brainstorming meeting, reduction ...
British Group GFG Alliance makes binding offer to buy Aluminium Dunkerque from R...
Krypto Labs named Strategic Partner for World Future Energy Summit's CLIX
IRENA Commission to analyse how energy transformation driven by renewables will ...
5 Different Types of Denim and How to Wear Them
IBM signs US$85 million private cloud managed services agreement with Emirates a...
Dubai's Star Business Centre becomes the first commercial centre to accept crypt...
Princess Reema hopes to see a woman in every Saudi sports federation
ENEC CEO: Barakah will be the first nuclear energy plant in the Arab world, sett...