Lubna, Russian officials discuss stronger trade relations

Abu Dhabi, Dec 23, 2012 (WAM) - Minister of Foreign Trade, Sheikha Lubna bint Khalid Al Qasimi, recently discussed with a Russian delegation of officials and businessmen ways to further promote cooperation between the two countries and to boost the role of joint investments and projects in increasing trade exchange. Sheikha Lubna said: "the discussions held over the past few days resulted in achieving a lot with regards to GCC - Russian relations, pointing out that the UAE appreciates the enthusiasm expressed by the Russian delegation towards all cooperation issues suggested during the meetings that took place over the past few days." The discussions took place at a business lunch organised recently by the Ministry of Foreign Trade in Abu Dhabi for the Russian delegation to the Russia - GCC Business Forum, hosted in Sharjah earlier last week in presence of Andrew V. Andreev, Ambassador of the Russian Federation to the UAE. Sheikha Lubna pointed out that there are huge opportunities in the UAE are available for Russian investors and businessmen, especially in areas of common interest such as energy and infrastructure development, financial services and tourism, all of which are flourishing thanks to the political and economic stability the UAE enjoys. She also said that there are growing opportunities for experienced UAE companies in the Russian market, in the areas of hospitality, real estate, airlines and infrastructure development, in particular. She called on Russian businessmen to intensify their visits and participations in joint trade expos in order to become more familiarised with the products and business opportunities the two countries offer. She expressed the UAE's interest in signing more agreements in the future that would ease trade and investments between the two countries. For her part, head of the Russian delegation and Chairperson of the Russian-Arab Business Council', Tatiana Gvilava, underlined the great importance Russian businessmen attach to developing trade, investment and economic relations with the UAE in light of the country's rapid and unprecedented economic successes and its healthy and strategic business environment. Gvilava also invited Sheikha Lubna to participate in a Russian Arab expo planned for next May in the Russian city of St. Petersburg, pointing out that she looks forward to seeing a large participation of Emirati investors at the event. She added that although businessmen from her country regularly visit the UAE, they are always equally impressed by the development and progress seen in all fields. She pointed out that many Russian companies are recurrent participants in various fairs and expos that take place in the UAE. Last year, Russian companies invested USD 187.1 million in the UAE economy, while the UAE invested US$253.8 million in major projects in Russia. During the first half of 2012, trade between the two countries exceeded US$1 billion, achieving a growth of over 40 percent during the same period in 2011. - Emirates News Agency, WAM