A meeting of economic experts from Russia and Arab countries was held in Dubai

In Dubai, within the framework of the meeting of the Russian-Arab Business Council, a panel session was held dedicated to the development of trade relations between Russia and the countries of the Arab world, including support for domestic and Arab exporters.

The meeting was held with the support of the Union of Arab Chambers and the Federation of UAE Chambers of Commerce and Industry as part of the global exhibition EXPO 2020.

The event was attended by Timur Kornilov, Vice President for Export Programs of Synergy Corporation, Timur Khairutdinov, Trade and Economic Representative of the Republic of Tatarstan in Dubai, Muhammad Abu Al-Huda Al-Laham, President of the Federation of Syrian Chambers of Commerce, President of Business Gate, President of Empowerment and opportunities for women and youth Leila Rahal El Atfani, director of Agrofirma Turgenevskaya LLC Alexei Mishin, as well as experts from trade missions of other countries. Igor Egorov, Director for World Markets of Asyad, acted as a moderator.

The participants noted that the pandemic had a serious impact on the global economy and caused losses in international trade. Lack of supplies has led to higher prices, including for logistics and international transport. Asyad Global Markets Director Igor Yegorov stressed that such challenges can bring countries together to find solutions together.

“It is important to open a new chapter in trade relations between Russia and the countries of the Persian Gulf, the Arab countries. We need to understand how to increase not only the physical volume of goods, but also improve the structure of import and export services between countries,” said Igor Yegorov.

Leila Rahal El Atfani said that the cooperation between the UAE and Russia makes a significant contribution to the development of supply chains. However, to strengthen trade relations, it is necessary to create a legislative framework. Thus, a free trade agreement is a key factor in increasing trade between countries.

“Russia is an industrial, logistics center between Europe and Asia. We actively cooperate with Russia, and this cooperation makes a significant contribution to the development of supply chains. However, to support Russian-Arab relations, it is necessary to create a legislative framework,” shared Leila Rahal El Atfani.

Timur Kornilov, Vice-President for Export Programs of the Synergy Corporation, Head of the Synergy Export Agency, said that small and medium-sized businesses, which today need active support, can play an important role in the development of exports.

“According to the decree of the President of Russia, by 2030 it is necessary to increase the export of non-commodity non-energy goods by at least 70% compared to 2020. Small and medium-sized businesses can play an important role in this,” said Timur Kornilov.

According to him, the lack of competencies in the field of foreign economic activity and the lack of understanding of the specifics of the foreign market can also become an obstacle for small and medium-sized enterprises.

“In 2021, the dynamics of exports to the countries of the Middle East increased by almost 60% (compared to 2020). This means that Russian producers are interested in developing trade relations in the Arab market. It is important for domestic entrepreneurs to develop competencies in the field of foreign economic relations. This can be supported, among other things, by educational programs with the possibility of further support for companies in finding foreign partners and conducting B2B communications,” Timur Kornilov added.

In particular, Synergy Export Agency (part of the Synergy Corporation) provides support in this direction, which services include professional training of employees in the field of foreign economic activity, as well as expert support for the company as part of exporting.

Earlier, in December 2021, the first Russian educational hub was launched in Dubai, which is a platform for the presence of Russian universities in foreign countries. According to the speaker, in 2022, on the basis of this center, field modules are planned for exporters who are interested in entering the UAE market.

The participants of the panel session expressed their readiness to cooperate with Russian enterprises and noted that now it is important for countries to unite and make joint decisions for the development of trade cooperation.

EADaily reminds that the meeting of the Russian-Arab Business Council was held on January 25-26, 2022 as part of the World Expo Dubai. The discussions were attended by leading experts, representatives of top management of the largest companies and government organizations in Russia and 22 Arab countries in the national pavilions of Russia, Egypt, Saudi Arabia, UAE, Bahrain, Kuwait, Sudan, Morocco, Syria and Oman.

Source: eadaily.com