SHARJAH, 14th April, 2021 (WAM) -- The UAE-Russian Business Council has discussed ways of boosting cooperation in the digital economy between the two countries, as well as encouraging mutual investments in information technology, cloud computing, artificial intelligence (AI) and smart services across all economic sectors.
The discussion took place during a meeting organised by the council, with the Emirati delegation being represented by Abdullah Sultan Al Owais, Chairman of the UAE-Russia Business Council and Chairman of the Sharjah Chamber of Commerce & Industry, while the Russian side was represented by Sergey Gorkov, Chairman of Russia-UAE Business Council.
During the meeting, Al Owais lauded the strong bilateral ties between the UAE and Russia, which are witnessing continuous growth in several vital sectors, most notably business and investment.
He also noted that the trade between the two countries has significantly increased in recent years, and Russia has become the UAE’s leading trading partner in Eastern and Central Europe, while the UAE maintained its position as Russia’s key trading partner in the Gulf region.
He also affirmed the necessity of reinforcing the distinguished economic ties between the two friendly countries, to meet the aspirations of their business communities.
Al Owais stressed that the UAE-Russian Business Council is playing a key role in advancing the economic ties and encouraging trade between the two countries, as well as in overcoming the challenges facing investors. He highlighted the meeting’s importance to enhancing their cooperation in the digital economy and investing in digital infrastructure.
He then presented the UAE’s achievements in the field of the digital economy, which ranked it in the list of top 10 countries in terms of competitiveness indexes while urging Emirati and Russian investors to benefit from the available opportunity and forge promising economic partnerships.
Gorkov, in turn, said that Russian businessmen and investors have a special interest in the UAE, which is a key economic destination for Russian companies, due to its diverse investment environment and attractive economic and commercial climate.
He also re-affirmed the eagerness of the business council to reinforce the economic ties between the two sides, as well as the desire of the Russian business community to forge successful partnerships with their Emirati counterparts, most notably in the digital economy.
The meeting was attended by representatives of several Russian and Emirati companies specialising in information technology.