Thursday, April 28, 2011

Russian businesses unite under the umbrella of Dubai Chamber

Launch of the Russian Business Council is seen as a means to
establishing stronger trade ties between Dubai and Russia

Dubai, UAE: The Russian Business Council, which has become the
39th Business Council operating under the umbrella of Dubai Chamber
of Commerce & Industry, was officially launched at a ceremony held at
The Palm Jumeirah Zabeel Saray Hotel on Wednesday.

Led by Dr. Igor Egorov, the Council has representatives from a
number of companies, co-owned and operated in Dubai by Russian
businessmen from general trading, publishing, event management,
interior design, consulting, radio broadcasting and many more.

H.E. Andrew V. Andreev, Russian Ambassador to the UAE, said: “We
consider the launch of the Russian Business Council in Dubai and
Northern Emirates as a vivid confirmation of dynamic development
of Russian-Emirati relations. Undoubtedly, this launch has a special
colour because it is taking place in the year of 40th anniversary of
diplomatic relations between Russia and the UAE.

“We note with satisfaction that our countries are bound with strong
ties of friendship and co-operation and we consider the UAE as our
important political and economic partner in the Middle East. The
turnover between Russia and the UAE is increasing from year to year
as well as activities in the field of investments. The number of Russian
companies doing business in the UAE is also increasing.

“In general we think that the Russian Business Council activity will
become an important factor in development of Russian-Emirati
relations. And in this respect the Council may rely on full support from
the Russian Embassy in the UAE,” said the Ambassador.

Welcoming the newly-formed Russian Business Council, H.E. Hamad
Buamim, Director General, Dubai Chamber, said that this latest
Council’s coming on board will help business communities of the
UAE and Russia to establish stronger trade ties and contribute to the
economic development of both the countries.

Buamim said: “Dubai is home to 394 Russian partnership and
ownership companies while the country is ranked 43rd in the list of
the Emirate’s top trading partners as it offers a fertile environment for
Russian investments. Dubai’s non-oil trade with the country reached
AED 3.25 billion at the end of 2009 and there is tremendous scope to
take these figures to a higher level.”

Buamim further added that Russian investments are increasing every
year and their companies are expanding globally while looking for
different markets. “It’s here that Dubai can assist Russian businesses
wanting to reach out to the Gulf region as well as different countries of
the world due to its strategic location providing easy access to South
Asian, African, Latin American and Far Eastern markets. I see great
future for Russian investors and professionals in Dubai,” he said.

Serghey Tokarev, General Secretary of the Russian Business Council
in Dubai and Northern Emirats said, “We are delighted, that finally all
Russian businessmen and entrepreneurs got their own house, where
doors are always open for business ideas sharing, free networking,
partnership seeking opportunities and other issues, related to the
establishment of the strong and transparent mutual relations among
our business communities of different levels, as well as to the spread

of business activities of Russian companies in the UAE and vice-versa

Emirates’ companies and business groups in Russia and neighboring

As a representative of Dubai’s business community, Dubai Chamber
spearheaded the establishment of 24 business groups and 39 business
councils and supervises all their activities and overall functioning. The
Chamber plays a supervisory role in strengthening and enhancing
cooperation between these official entities and the Government while
providing them a platform to network and attend global forums and
to meet and establish newer business ties with businessmen from
unexplored markets of the world.

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