ABU DHABI, 13th December, 2021 (WAM) — The UAE participated in the international export forum "Made in Russia", which is being held in the Russian capital Moscow, through a delegation led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The forum witnessed the participation of Russian and foreign ministers and officials, investors and business leaders.
Dr. Al Zeyoudi stressed the UAE and Russia have profound and deep-rooted ties that constitute an outstanding example of international relations, noting Russia is a key economic partner of the UAE.
The economic cooperation between the two countries have advanced in size and diversity in recent years in many vital sectors, such as renewable energy, space, modern technology and the Fourth Industrial Revolution, and through the launch of several successful joint investment projects by companies from both countries in the areas of real estate, industry, food security, infrastructure, petrochemicals, ports and aviation, he added.
The UAE is continuing to work with its partners in Russia to enhance their economic cooperation, in line with the "Projects of the 50", Dr. Al Zeyoudi noted.
Al Zeyoudi then showcased the recent key developments related to the UAE’s economy, including modernising its economic legislation, allowing full foreign ownership of local companies, maintaining openness and flexibility in trade and investment policies, and launching the Projects of the 50, which is a proactive roadmap for its future economy.
Russia is a priority market for the UAE in the field of trade and exports, in addition to nine other key markets in Asia, Europe and Oceania, he further added, noting the country’s new economic environment offers pioneering incentives for companies to increase their presence in the UAE's market and forge fruitful partnerships in sustainable sectors.
The development of the UAE’s business environment has made it an attractive one for international companies, Dr. Al Zeyoudi affirmed. He noted that the UAE was ranked second globally as one of the most secure countries, and for its advanced technological infrastructure, which enabled it to be ranked first globally on the list of best e-infrastructures in the Global Competitiveness 2020 Index.
Al Zeyoudi briefed the forum’s participants about the UAE’s efforts in the gold sector, most notably the issuance of the UAE Good Delivery Standard for refineries, which references the quality and technical specifications of country’s refineries and gold production facilities.
He then called on the forum’s participants to capitalise on the UAE’s economic developments and leading exports capacities and explore potential partnership opportunities.
The country’s delegation included Dr. Mohammed Al Jaber, UAE Ambassador to Russia; Rashid Abdul Karim Al Balooshi, Under-Secretary of the Department of Economic Development – Abu Dhabi; Saed Al Awadi, CEO of Dubai Industries and Exports; Mohammed Obaid bin Majid Al Alili, Director-General of the Department of Industry and Economy in Fujairah; and Mohammed bin Salmin Al Arian, Member of the Board of Directors of the Ajman Chamber of Commerce and Industry.