Overcoming Three Hurdles: Russia and UAE’s Path to Cooperation

Experts from the Roscongress Russian Business Foundation identified three main obstacles hindering the development of cooperation between the two countries.

In a report titled “Russia and the United Arab Emirates: Ways of Technological Cooperation”, experts from Roscongress and Moscow State University, prepared on the eve of St., touch on financial issues.

The report states that it is about restoring the work of the Russian payment system “Mir” in the Emirates, the development of cooperation with Islamic banks.

In the field of investment, the report states that the issue of resuming cooperation between the Russian Direct Investment Fund and the investment company Mubadala remains open.

The experts added that it is also necessary to address the issue of media coverage to enhance the interests of Russia and Russian companies, noting that large Russian industrial companies are represented at leading economic forums and exhibitions in the UAE, and medium and small enterprises suffer from a lack of channels to activate and expand their presence in the UAE market and the Arab world as a whole.

In this regard, the report pointed out “a number of difficulties with media coverage of scientific cooperation. To date, there is no permanent participation of representatives of the scientific sphere and Emirati educational centers in Russian conferences.”

The Ross Congress report confirmed that relations between Russia and the UAE are moving towards growth, and that the existing aspects of growth make it possible to overcome obstacles and weaknesses, adding that the St. Petersburg Forum can be a starting point in terms of promoting the development of cooperation between Russia and the United Arab Arab Emirates.

The report also spoke about Russian-Emirati cooperation in the space sector and emphasized that “there are still all the necessary conditions for the implementation of joint projects in the space sector. The Russian Federation has unique experience in the field of manned space flights, rocket production and satellite launches, as well as space infrastructure.” , including the spaceport.

It is noteworthy that the St. Petersburg International Economic Forum will be held from 14 to 17 June.

Source: News

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