Feb 20, 2020

Outcomes of the «Business Russia» work at the business forum in Sharjah: New contacts and Memorandum of Understanding

On February 18-19, the «Business Russia» delegation headed by the Business Ambassador of the organization in the United Arab Emirates Maksim Zagornov took part in the UAE-Russian Business Forum in Sharjah, which took place on the margins of the 3rd meeting of the Working Group on Industry, Investment and Innovation of the Intergovernmental Russian-Emirates Commission on Trade, Economic and Technical Cooperation. The result of the «Business Russia» entrepreneurs' work was new business contacts, agreements on the implementation of joint projects and signing of the Memorandum of Understanding with the influential Arab organization «Business Gate».

From the United Arab Emirates the event was organized by the Department of Economic Development of Sharjah, UAE's Ministry of Energy and Industry; On the part of Russia - Ministry of Industry and Trade of the Russian Federation. The meeting of the Working Group and the subsequent business forum were aimed at working out organizational and legal issues of international cooperation, ties strengthening between the business communities of Russia and the UAE, search for new investment opportunities.

Deputy Minister of Industry and Trade of the Russian Federation Alexey Gruzdev acted as the Chairman of the Russian part of the Working Group, the Chairman of the Emirates part - the Undersecretary of UAE Ministry of Energy and Industry HE Dr. Matar Hamed Al Neyadi. The meeting discussed the main issues of cooperation and promising Russian-Emirates projects in such areas as robotics, digital technologies, aviation industry, shipbuilding, automotive industry, oil and gas equipment, renewable energy sources, metallurgy, industrial innovations.

Practical issues of interaction between Russian and Emirates companies were considered in the framework of the subsequent business forum. Russian entrepreneurs were presented with Sharjah's capabilities. Among the seven emirates that make up the United Arab Emirates, Sharjah ranks third in terms of both area and population and development. Today the Emirates has taken a course of active cooperation with Russia: in 2019 the Sharjah Chamber of Commerce and Industry signed a Memorandum of Cooperation with «Business Russia», the implementation of a number of joint projects began.

The UAE-Russian Business Forum has become a new step for strengthening the business interaction between the «Business Russia» and the UAE companies. Thus, on February 19 on the margins of the forum the Memorandum of Understanding between the largest engineering companies of Russia - the MKS Group of Companies («Business Russia» member) and the influential Arab organization «Business Gate» was signed. This consulting structure is engaged in economic research, financial analysis of promising innovative projects, provides legal support to foreign companies entering the market of Arab states of the Arabia Gulf (GCC).

The memorandum was signed by the MKS Group of Companies CEO, «Business Russia» Ambassador in the UAE Maksim Zagornov and the «Business Gate» founder Laila Rahhall. It should be noted that Laila Rahhall is the UN goodwill ambassador and one of the ten most influential women in the Middle East. The parties agreed on mutually beneficial partnership and strengthening of bilateral economic relations.