UAE and Russia to strengthen trade, industrial co-operation

INNOPROM 2024 has started in Yekaterinburg, Russia, with the UAE participating as a Partner Country. The UAE’s delegation is focused on strengthening bilateral relations by highlighting investment, industrial, and trade opportunities, exchanging experiences and knowledge, and exploring partnerships.

Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, is leading the UAE delegation, which includes Sarah Bint Yousef Al Amiri, Minister of State for Public Education and Advanced Technology, Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, along with several officials, members of the UAE business community, and representatives of leading national companies.

The UAE is showcasing key investment opportunities, competitive advantages, enablers, and partnerships offered to industrial investors, which are positioned to enhance the growth and competitiveness of industrial companies under the umbrella of the National Strategy for Industry and Advanced Technology. This aims to strengthen industrial cooperation and partnerships between UAE companies, their Russian counterparts, and other participating countries, with around 700 exhibiting companies and 46,000 visitors from over 50 countries.

The delegation includes Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, Mohammed Alhawi, Undersecretary of the Ministry of Investment, Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector at the Ministry of Industry and Advanced Technology, and Dr Farah Al Zarooni, Assistant Undersecretary for the Standards and Regulations Sector at the Ministry of Industry and Advanced Technology.

The delegation also include representatives from the UAE’s industrial sector, including Mohammed Al Alyili, Director General of the Department of Industry and Economy in Fujairah, Hamid Bin Salem, Secretary General of the UAE Chambers of Commerce and Industry, Abdulaziz Al Serkal, CEO of Industries at Dubai Investments, Abdullah Al Hameli, CEO of Economic Cities and Free Zones Sector at Kizad, Ismail Al Naqi, Director General of the Free Zones Authority in Ajman, and Saud Abu Alshawareb, Executive Vice President of the Tecom Group - Industrial Sector.

The event takes place against a backdrop of remarkable industrial growth in the UAE.

In 2023, the sector became the second largest contributor to non-oil GDP after the retail industry, with a value of Dhs205 billion, growing 55 per cent compared to 2020.

With a nod to Emirati heritage, the UAE pavilion’s design was inspired by the Ghaf tree, symbolising resilience, stability, and strength.

The pavilion represents harmony between nature, innovation, and national heritage, drawing inspiration from the Ghaf tree’s ability to grow in the arid desert environment.

The UAE Ministry of Culture is organising a cultural programme and heritage activities to introduce visitors to Emirati culture, traditions, and crafts.

During its four-day participation, the UAE delegation is presenting the key objectives of the country’s industrial strategy and the role of MoIAT in promoting the growth of vital and priority sectors, including highlighting milestones achieved under Operation 300bn.

The ministry will also highlight the key enablers and competitive advantages of the UAE’s investment environment, focusing on success stories achieved under the Make it in the Emirates initiative.

The delegation will highlight opportunities and unique enablers and incentives supporting the growth and sustainability of supply chains, including in areas such as agricultural technology, pharmaceuticals, smart mobility and future industries. The ministry is showcasing guaranteed procurement opportunities across more than 2,000 locally manufactured products in the UAE.

During the exhibition, Emirati entities and companies will sign memoranda of understanding and agreements to attract industrial investments to the UAE, including the Adnoc Group, Khalifa Industrial City (Kizad), Dubai Industrial City, the Free Zones Authority in Ajman, in addition to a number of Emirati and Russian companies.

The UAE pavilion is also showcasing incentives for production and export, including the country’s strategic geographical location, advanced logistical infrastructure, 100 per cent foreign ownership laws, and reliable and affordable low-carbon energy. It is also highlighting the country’s free trade agreements, which grant access to promising international markets for manufacturers and products made in the UAE.

On the first day, a business forum session titled “ Industrial Dialogue Russia-UAE “ saw HE Dr. Al Jaber deliver a keynote speech emphasizing joint efforts to enhance industrial cooperation and trade between the UAE and Russia, focusing on supply chains, especially in high-demand industries, and boosting their competitiveness.

The session was designed to enable fruitful industrial partnerships that stimulate industrial growth. It also highlighted the efforts of joint working groups in supporting cooperation, particularly in energy, pharmaceuticals, space industries, renewable energy, agricultural technology, transportation, machinery, equipment, metals, and manufacturing industries.

A panel titled “Make it in the Emirates: Emphasising the UAE’s value proposition for potential industrial investors”, showcased the opportunities and added value it offers to investors in the industrial sector. Additionally, several roundtables were held to explore industrial investment opportunities between Emirati and Russian businesses and investors.

The second day featured the opening ceremony of INNOPROM by Mikhail Mishustin, Prime Minister of the Russian Federation, tour to the UAE’s pavilion accompanied by Dr Al Zeyoudi and Omar Al Suwaidi.

During a session titled “Technology Partnership: Shaping the future”, Mihustin praised the UAE’s efforts in building an astonishing pavilion, emphasising on the industrial private and public sector’s participation.

A major strategic session titled “ Technology partnership: shaping the future “ took place on the second day, featured Dr. Al Zeyoudi, along with a number of Emirati and Russian officials, in addition to another session on the impact of advanced technology adoption on industrial efficiency.

The UAE offers attractive competitive advantages to local and foreign companies and investors, including a strategic geographical location, 100 per cent foreign ownership, world-class logistics infrastructure, and access to reliable sources of low-carbon energy.

The UAE delegation includes representatives from government entities and national companies operating in various sectors, including heavy industries, pharmaceuticals, food industries, medical equipment and supplies, transportation, scientific research, and more.

The delegation aims to showcase success stories achieved under the Make it in the Emirates initiative and the enablers and incentives provided to investors in the UAE’s industrial sector. It also aims to explore potential partnership opportunities with Russian and international companies participating in the exhibition.

As part of its ongoing efforts to strengthen investment partnerships, the UAE is emphasising its position as a global industrial hub and a key member of the international industrial community.

The contribution of the UAE’s industrial sector to the GDP has increased to approximately Dhs205 billion, with a target of Dhs300 billion by 2031 under the National Strategy for Industry and Advanced Technology.