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Ras Al Khaimah
june 2024
Strengthening ties with UAE business partners
The Moscow authorities have calculated: over the past seven years, almost two thousand Moscow companies have taken part in foreign exhibitions supported by the city. They have introduced their products to buyers from the Middle East, Asia, Latin America and the CIS.

Now the Moscow Export Centre is conducting a survey: in which business events the capital's exporters are ready to participate. The selection includes more than 100 events in 28 friendly countries, including Argentina, China, India, UAE and Qatar.

- They are oriented on manufacturers of equipment, furniture and cosmetics, representatives of fashion industry, technological business and seven other branches, - told the deputy mayor Natalia Sergunina.

One of the main partner countries today is the United Arab Emirates (UAE). "VM" tells us in which areas Russian and Arab entrepreneurs find points of investment contact.

Aref Khan, owner of Ruby Group, notes that Russian-Arab co-operation covers various areas, including politics, economy, culture and security.

- Economically, Russia and Arab countries are involved in trade, investment and energy co-operation. Russia has invested in infrastructure projects in the region," he said. - Overall, Russian-Arab co-operation is multifaceted and is influenced by a complex interaction of political, economic and cultural factors.

Today, he said, the UAE offers a number of advantages for Russian businesses looking to expand their presence or expand their operations.

- Strategic location: the UAE serves as a gateway between East and West, making it an ideal location for businesses seeking access to markets in the Middle East, Africa, Asia and beyond. Their proximity to Russia also facilitates trade and business relations," Aref Khan continued. - In addition, the UAE has implemented various reforms to streamline business processes and reduce bureaucratic hurdles. Free zones offer 100 per cent foreign ownership, tax and other incentives, making them attractive to foreign investors, including Russian investors.

Meanwhile, the UAE boasts state-of-the-art infrastructure, including world-class airports, seaports, roads and telecoms networks. This facilitates efficient logistics and communications, increasing the ease of doing business.

One of the main guides in the business world for entrepreneurs of the two states is the Worldwide Association of entrepreneurs of Eurasia and Africa. It actively helps to strengthen co-operation between the countries.

- The Worldwide Association of entrepreneurs of Eurasia and Africa sounds like an intriguing initiative! - Aref Khan noted. - Such associations can be incredibly valuable in promoting economic growth, innovation and cross-border partnerships. They often provide opportunities for entrepreneurs to share knowledge, access resources and build business relationships across geographical boundaries.

Another expert and attorney, Jamal Hassan Al Najr, PhD, notes the high interest in property in the United Arab Emirates. According to him, investments in infrastructure projects are among the most effective today.

- The prospects for Russian-Arab co-operation are high," he said. - First of all, we are talking about tax benefits and incentives for Russian entrepreneurs. They have access to the UAE's diverse and growing market. A bonus is a strong infrastructure and supportive business ecosystem. Influencing mutual business interest is the strategic location and connectivity for international trade. Establishing ties is beneficial for both countries, he said.

In turn, Elena Varyukhina, a methodological consultant in the field of international tax planning, international financial reporting and international business structuring, notes the important connection between the two countries. The Worldwide Association of entrepreneurs of Eurasia and Africa has become such a "bridge" in the business environment.

- It is a unique Russian project in the Middle East countries," said the expert. - The Association is based in the northern UAE emirate of Ras Al Khaimah, which makes this project even more unique and interesting. It is the foundation for successful entrepreneurship, bringing together powerful business tools and entrepreneurial philosophies.

Starting to work with the Association will benefit you immensely as an entrepreneur, opening up new ways to think deeply about challenges, solutions and even your very way of thinking. And only these changes will affect the ideas you are already implementing and create a foundation for further growth.

Various agreements are currently in force between our countries. In the spring of this year one more agreement was added to them - Tatiana Mineeva, Commissioner for the Protection of Entrepreneurs' Rights in Moscow, and Irina Gurnitskaya, Chairman of the Board of WORLDWIDE AEEA FZ-LLC in Ras Al Khaimah, signed a cooperation agreement.

- The purpose of the agreement is to support the development of entrepreneurial activity in Moscow and the United Arab Emirates, to create a favourable business climate, to monitor the business environment and to increase social activity," said Moscow Business Ombudsman Tatyana Mineeva in detail.

The Worldwide Association of entrepreneurs of Eurasia and Africa sees as its main task the creation of an open business space, whose participants can form mutually beneficial partnerships and open access to experience, resources and information on doing business by entrepreneurs from different countries. The Association advises Russian export companies on doing business in the UAE, Eurasia and Africa, registers businesses in free economic zones, provides services in selecting clients and partners, and assists in selling the products of Russian and CIS producers in the above markets.

In addition, the Moscow Export Centre works to help Moscow companies enter new markets. Each step towards strengthening co-operation between the two countries is another step towards forming new profitable ties between different companies.

Source: https://spbdnevnik.ru/news/2024-06-08/mezhdunarodnoy-organizatsii-evraziyskogo-sotrudnichestva-i-assotsiatsiya-predprinimateley-evrazii-i-afriki-podpisali-soglashenie-na-pmef

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