UAE, Russia to reinforce mutual cooperation in various sectors

Business Bureau, Gulf Today

Abdullah Al Muwaiji, Chairman of Ajman Chamber of Commerce and Industry (ACCI), received a Russian economic delegation from the city of Belgorod led by Zubov Vladimir Konstantinovich, head of the Consumer Market Development Department at the Economic Department of Belgorod City, to enhance the mutual cooperation and discuss available investment opportunities in various sectors.

Among the attendees at the meeting, which was held at Ajman Chamber, were Sheikh Sultan Bin Saqr Al Nuaimi and Abdullah Saeed Al Nuaimi — members of the Board of Directors of Ajman Chamber, Salem Al Suwaidi, Director General, and Mohamed Ali Al Janahi, Executive Director of the Promotion and Investment Division at Ajman Chamber, along with a number of representatives of government departments, companies and factories in Belgorod.

Speaking to the attendees, Al Muwaiji stressed the depth of relations between the UAE and Russia, briefing the delegation about the most important investment opportunities available and the various components that characterise the economy in the Emirate of Ajman and the UAE. He also pointed out that the UAE’s economy is distinguished with a continuous development, which enhances the opportunities available and in all fields thanks to the follow-up and keenness the prudent leadership.

He said, “The UAE is keen to enhance the cooperation with Russia, which is reflected in the volume of trade exchange between the two countries, where the non-oil trade exchange between the two countries during the past five years reached Dhs51.7 billion, growing by 36 per cent in 2018 compared to 2017.”

Furthermore, the trade statistics between Russia and the Emirate of Ajman indicate possibility of more future growth in the light of the Russian companies operating in the emirate that amount to 480 companies, he added.

Al Muwaiji also noted that the Ajman Chamber welcomes all investors, pointing out that it spares no effort in providing an attractive environment that supports the growth of commercial, industrial, service and professional businesses, in cooperation with the authorities concerned with economic affairs in Ajman.

For his part, Zubov Vladimir reviewed a number of investment advantages and economic elements that the Russian city of Belgorod possesses. The city is inhabited by about 1.5 million people and produces 30 per cent of meat in Russia and 38 per cent of iron and its derivatives. The city of Belgorod is one of the leading cities in the production of animal feed and one of the five major cities in Russia at the level of urban development. Moreover, the city is also one of the leading cities in trade and attracting capitals.

He continued, “The city has developed significantly and put within its future plans the international cooperation and adoption of modern trade methods, which will enhance the economic cooperation with the UAE in general and Ajman in particular.”

The Russian delegation also presented an overview of the developed agricultural potentials, as Belgorod is considered one of the most fertile agricultural lands in Russia flourishing the industries related to agricultural activity in the city.

The Russian delegation, which comprised many merchants and businessmen, provided an overview of their companies and factories, which operate in packaging of water and beverages, production of glass panels with high specifications for buildings, and fruits and vegetables production. The attendees also welcomed increasing the cooperation in the agricultural field and discussed the possibility of conducting specialized studies to benefit from Russian agricultural experiences.

For his part, Abdullah Saeed Al Nuaimi, reviewed a number of economic, real estate and tourism opportunities in Ajman, in addition to the efforts made by the government department and institutions in providing a stimulating environment for the development and growth of companies and factories.

The delegation also made a field tour in the Al Zora area in Ajman to learn about most important opportunities available in the area.

Meanwhile, Sheikh Sultan Bin Saqr All Nuaimi, briefed the delegation about the development of the education sector in the emirate of Ajman and the opportunities available.

At the end of the meeting, commemorative shields and souvenirs were exchanged, while attendees stressed the need to exchange commercial delegations to get acquainted with the most important investment opportunities, and to organise direct meetings that gather businessmen from Ajman and Belgorod.