Development of trade relations between Russia and Arab countries discussed in Dubai

International experts during the meeting of the Russian-Arab Business Council in Dubai discussed the development of trade relations and support for exporters from the Russian Federation and the Arab region.

Igor Egorov, Director of World Markets at Asiad, pointed out the need to determine how the parties can increase not only the physical volume of goods, but also improve the structure of import and export services between the countries.

Today, Russia is an industrial, logistics center between Europe and Asia, said Leila Rahal El Atfani, President of Business Gate. "We are actively cooperating with Russia, and this cooperation makes a significant contribution to the development of logistics chains. However, in order to support Russian-Arab relations, it is necessary to create a legislative framework," she added.

When developing exports, it is necessary to pay attention to small and medium-sized businesses (SMEs), which plays an important role in this direction and needs support, says Timur Kornilov, Vice President for export Programs at Synergy Corporation, head of Synergy Export Agency. He recalled that by 2030, according to the presidential decree, non-primary non-energy exports should grow by at least 70% compared to 2020.

However, the lack of competencies in the field of foreign economic activity and the lack of understanding of the specifics of the foreign market may become an obstacle for SMEs, he continued.

Last year, exports to the Middle East increased by almost 60% compared to 2020, said the vice president of the corporation. According to him, this means that Russian manufacturers are interested in developing trade relations in the Arab market.

"It is important for domestic entrepreneurs to develop competencies in the field of foreign economic relations. This can be supported, among other things, by educational programs with the possibility of further support for companies in finding foreign partners and conducting B2B communications," Kornilov added.

At the end of 2021, the first Russian educational hub was launched in Dubai, which is a platform for the presence of Russian universities in foreign countries. In 2022, on the basis of the center, exit modules are planned for exporters who are interested in entering the UAE market, the expert said.

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Author: Ksenia Gustova