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Financial Corporation "Sistema"

January 26, 2004

Russian, Arab state businesses map future collaboration

Moscow, 26 January, 2004. The first joint session of the Russian and Arab business councils, held 24-25 January in Cairo, has mapped out a preliminary series of joint activities designed to encourage increased mutual trade and investment. The meetings were held under the patronage of Dr. Atef Obeid, Prime Minister of the Arab Republic of Egypt. During the meetings, business leaders from Russia and 22 Arab states discussed the current situation in Russian-Arab trade relations, and possible ways to develop cooperation in trade, industrial cooperation. They also considered joint technological projects in telecoms, the oil and gas sector, transportation, construction and human resources. The participants agreed upon organization of Russian Central Federal Region Days in Lebanon and an International Exhibition of Arab Producers in Moscow. The participants signed a communiqué which refers to the need for joint industrial and marketing projects, encouragement of trade and services particularly in science and technology. The participants also noted the importance of exchange of information relating to the situation in Russian and Arab trade and economics in order to encourage trade and investments. The Russian delegation, headed by Evgeny Primakov, Head of the Russian Chamber of Commerce and Industry, visited Egypt by invitation of the General Federation of Egyptian Chambers of Commerce. The delegation included members of the Russian Chamber of Commerce and Industry and the members of Russian-Arab Business Council who represent major companies from various industries. Within the framework of the visit representatives of the Russian delegation met with Egyptian President Hosni Mubarak, Prime Minister Atef Obeid, Foreign Minister Akhmed Maher, Minister of Supplies and Domestic Trade Dr. Khasan Hodr and Minister of Industry Dr. Ali Al-Saidi. The Russian visitors also conducted talks with representatives of the Arab business community. Commenting on results of the visit to Egypt chairman of the Russian Arab Business Council Vladimir Evtushenkov said: “Business people of Russia and the Countries of the Middle East are interested in strengthening business contacts and this we see as the main task of the Council. Now the Arab countries are selecting a strategic partner for trade and economic cooperation, and in this connection the first meeting of the RABC is very important. The meeting signified the start of constructive dialogue between the Arab and the Russian parts of the council. Bearing in mind the positive attitude of concrete economic players, readiness for communication and exchange of information, we are likely to witness implementation of successful joint projects soon.” Mr. Evtushenkov also said that the Business council will enable entrepreneurs to better learn about each others’ potential, will deepen mutual understanding between entrepreneurs and investors and will become the focus of Russian-Arab business activity. The next session of the Russian Arab Business and Arab Russian Business Councils will take place in Moscow in June. The Russian-Arab Business Council founded by the Chamber of Commerce and Industry of the Russian Federation, was established in August 2003 in order to implement tasks stemming from inter-government treaties and agreements between Russia and the Arab countries and with the purpose of promoting contacts between the business communities of Russia and the Arab region with a view to improving cooperation and mutually beneficial economic relations. The starting point in the development of RABC was conclusion of the Agreement of Cooperation by the chairman of the Chamber of Commerce and Industry of the Russian Federation and President of the Chambers of Commerce, Industry and Agriculture of the Arab Countries Khaled Abu Ismail. The two sides have agreed to establish two permanent business councils: the Russian-Arab Business Council in Moscow and the Arab-Russian Business Council in Beirut. The largest Russian companies (“RAO UES”, “SUAL-Holding”, “LUKoil”, “Aeroflot”, “Vneshtorgbank”, among others) are RABC members. Further information: Russian-Arab Business Council Moscow tel.: 929-0313 fax: 929-0255 E-mail: tnalin@tpprf.ru

 

 

 

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