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The recent participation of Ras Al Khaimah Economic Zone (RAKEZ) representatives at the St. Petersburg International Economic Forum (SPIEF) 2023 in Russia aimed to explore opportunities for collaboration and strengthen economic ties between the United Arab Emirates (UAE) and Russia.
During the forum, RAKEZ Chief Commercial Officer, Anas Hijjawi, took part in a panel discussion titled ‘UAE Industrial Clusters: New Opportunities for Russian Exporters.’ The discussion focused on how RAKEZ, being one of the largest and fastest-growing regional economic zones, can serve as a strategic platform for Russian exporters seeking to expand their production facilities in the current geopolitical landscape.
Hijjawi highlighted the advantages and preferences offered by the UAE’s economic zones to Russian investors. These include a business-friendly environment, robust infrastructure, collaborative opportunities, access to modern facilities, and a wide range of support services. He emphasized the importance of market research, strategic partnerships, product adaptation to local demand, and proactive marketing and promotional activities for Russian companies looking to enter the UAE market.
Furthermore, Hijjawi stressed the significance of establishing Russian clusters within the economic zones. This would facilitate enhanced collaboration, access to specialized resources, networking opportunities, streamlined government support, and the development of state-of-the-art industry ecosystems.
During SPIEF, RAKEZ and Business Russia signed a Memorandum of Understanding (MoU) to promote stronger trade, economic, scientific, and technological relations between the UAE and Russia. The MoU encourages closer contact between the two entities, facilitates information exchange, and promotes active participation in business events in both countries. It aims to foster a stronger partnership between RAKEZ and Business Russia, leading to mutual benefits and growth for companies in both regions.
RAKEZ Group CEO, Ramy Jallad, expressed enthusiasm for the collaboration with Business Russia, considering it a significant milestone in strengthening trade and economic relations between the UAE and Russia. The MoU is expected to open up new avenues for collaboration, knowledge sharing, and business opportunities between the two countries, benefiting companies from both regions and contributing to the growth and prosperity of their respective economies.
Currently, RAKEZ is home to approximately 800 Russian companies operating across various sectors, including startups, SMEs, and large manufacturers.
