Russian businesses unite under umbrella of Dubai Chamber
Rushika Bhatia

Russian businesses unite under umbrella of Dubai Chamber

The Russian Business Council, which has become the 39th Business Council operating under the umbrella of Dubai Chamber of Commerce & Industry, was officially launched April 27th at a ceremony held at The Palm Jumeirah Zabeel Saray Hotel.

Led by Dr. Igor Egorov, the Council has representatives from a number of companies, co-owned and operated in Dubai by Russian businessmen from general trading, publishing, event management, interior design, consulting, radio broadcasting and many more.

H.E. Andrew V. Andreev, Russian Ambassador to the UAE, said: “We consider the launch of the Russian Business Council in Dubai and Northern Emirates as a vivid confirmation of dynamic development of Russian-Emirati relations. Undoubtedly, this launch has a special colour because it is taking place in the year of 40th anniversary of diplomatic relations between Russia and the UAE.

“We note with satisfaction that our countries are bound with strong ties of friendship and co-operation and we consider the UAE as our important political and economic partner in the Middle East. The turnover between Russia and the UAE is increasing from year to year as well as activities in the field of investments.  The number of Russian companies doing business in the UAE is also increasing.

“In general we think that the Russian Business Council activity will become an important factor in development of Russian-Emirati relations. And in this respect the Council may rely on full support from the Russian Embassy in the UAE,” said the Ambassador.

Welcoming the newly-formed Russian Business Council, H.E. Hamad Buamim, Director General, Dubai Chamber, said that this latest Council’s coming on board will help business communities of the UAE and Russia to establish stronger trade ties and contribute to the economic development of both the countries.

Russian businesses unite under umbrella of Dubai Chamber
UAE and Russian delegates and business people at the opening ceremony

Buamim said: “Dubai is home to 394 Russian partnership and ownership companies while the country is ranked 43rd in the list of the Emirate’s top trading partners as it offers a fertile environment for Russian investments. Dubai’s non-oil trade with the country reached AED 3.25 billion at the end of 2009 and there is tremendous scope to take these figures to a higher level.”

Buamim further added that Russian investments are increasing every year and their companies are expanding globally while looking for different markets. “It’s here that Dubai can assist Russian businesses wanting to reach out to the Gulf region as well as different countries of the world due to its strategic location providing easy access to South Asian, African, Latin American and Far Eastern markets. I see great future for Russian investors and professionals in Dubai,” he said.

Serghey Tokarev, General Secretary of the Russian Business Council in Dubai and Northern Emirats said, “We are delighted, that finally all Russian businessmen and entrepreneurs got their own house, where doors are always open for business ideas sharing, free networking, partnership seeking opportunities and other issues, related to the establishment of the strong and transparent mutual relations among our business communities of different levels, as well as to the spread of business activities of Russian companies in the UAE and vice-versa Emirates’ companies and business groups in Russia and neighboring countries”.