Sharjah eyes to boost economic and investment ties with Russia

The Sharjah Chamber of Commerce & Industry (SCCI) is leading the Emirate’s trade mission to Russia, which will take place from 7th to 12th September in Moscow and Saint Petersburg.

The visit aims to enhance the economic, commercial, and investment cooperation between the two sides, as the UAE-Russia relations are witnessing a remarkable development at all scales.

The SCCI delegation will be led by Abdullah Sultan Al Owais, Chairman, SCCI, and includes a number of the Chamber’s board members, representatives of government bodies, and the private sector as well.

The visit aims to attract more foreign investments to Sharjah and open new and emerging markets before the SCCI members, thus helping them develop their businesses abroad and increase their local exports, said Abdullah Sultan Al Owais.

This falls within the SCCI’s commitment to boosting the economic ties of the Emirate of Sharjah by organising business forums with the bodies concerned with trade and investment worldwide, he added.

Al Owais pointed out that the SCCI-led trade mission to Russia comes at a time when the UAE-Russia ties are seeing significant growth in various economic spheres. This could be seen in the direct flights between the two countries and the signing of several agreements throughout the past years, which contributed to increasing the trade volume and facilitating bilateral trade.

The SCCI Chairman made it clear that the mutual governmental and commercial visits and delegations between the two sides clearly reflect a sincere desire to take commercial ties to new heights, in addition to developing joint investment in the area of information technology, cloud computing, artificial intelligence, and smart services, as well as promoting innovation and economic diversification.

The UAE-Russia relations are a strategic and sustainable one, based on important and vital economic partnerships, including the tourist sector, said Khalid Jasim Al Midfa, Chairman, Sharjah Commerce and Tourism Development Authority (SCTDA), noting that the visit seeks to explore further cooperation prospects in investment, trade, tourism, innovation, and modern technology.

The tourism sector is one of the most important sectors that strengthen bilateral relations, as the Russian market is one of the most important markets exporting tourism to the UAE, while Sharjah, in particular, witnessed a steady increase in the second quarter of 2021 at a rate of 9,000%, following the gradual return of travel and air traffic due to the Covid-19 pandemic.

Al Midfa added: “The development of the tourism sector is at the forefront of Sharjah’s development priorities. This is evident in the increasing number of tourist facilities and the provision of advanced and innovative tourism services and sophisticated infrastructure projects.”

To ensure the comfort of passengers and to provide world-class travel services, the Sharjah International Airport has been expanded, its services and facilities have been upgraded, and the number of destinations and flights has been increased, he noted This is in addition to other attractive and stimulating factors for foreign companies wishing to enter the region’s markets and expand their tourism and economic activity.

For his part, Abdulaziz Shattaf, Assistant Director-General, Member Services Sector, Director of Sharjah Export Development centre, said: “The mission’s programme includes a number of forums in Moscow and Saint Petersburg, in cooperation with the two cities’ Chambers of Commerce, under the title ‘Sharjah-Russia Business Forum.

Shattaf added: “On September 7, the mission will attend the Manufacturers’ Forum and the Russia-UAE Business Council Forum, in addition to a number of bilateral meetings between the business communities in the UAE and Russia.

During these forums, the SCCI, together with the participating government institutions, will deliver several presentations highlighting the emirate’s distinctive qualities and its stimulating and promising investment climate.

In July, the Sharjah Chamber of Commerce and Industry has discussed with the Consulate-General of the Republic of South Korea in Dubai means of enhancing economic cooperation and commercial relations between companies and investment institutions operating in Sharjah and South Korea.

They also discussed ways of supporting partnerships, along with investment opportunities available in information technology, healthcare, tourism, and culture.

This came during a visit of Moon Byung-Jun, Consul-General of South Korea in Dubai, to the SCCI headquarters, where he was received by Mohammed Ahmed Amin Al-Awadi, Director-General of the Chamber, and Fatima Khalifa Al Mokarrab, Director of International Relations Department at the Chamber.

While welcoming the visiting delegation, Al-Awadi underlined the depth of UAE-South Korea relations, where the latter is considered one of the most important trading partners for the UAE and the Emirate of Sharjah in particular.