VLADIMIR YEVTUSHENKOV IDENTIFIED
THE MAIN GOAL OF «ARABIA-EXPO 2019»

Strengthening of mutual trust is the basis of trade and economic cooperation between Russia and the Arab countries., said VLADIMIR Yevtushenkov, the head of JSFC SISTEMA , Chairman of the Russian-Arab Business Council , opening the International exhibition "Arabia-EXPO 2019" and the XII session of Russian-Arab business Council in Moscow Manege,

"Not everything in life is measured by the volume of investments, trade turnover and other economic indicators, it is necessary to establish such a relationship of trust when the contracts, volume of export and import, implementation of investment projects in all countries will be absolutely commonplace," said Yevtushenkov.

In the meantime, according to the Head of the JSFC Sistema, Russia and the Arab world are still at the stage of establishing mutual trust, and this is not "an easy path". At the same time, the Chairman of the RABC sees undoubted success in this process, as evidenced by the growing popularity of the exhibition "Arabia-EXPO". "The exhibition is growing, becoming more intense, more influential. I've already seen a lot of friends with whom you can discuss any projects, and they understand the subject perfectly. That is, some wariness in relationships disappears, and this is the most important thing in business. If there is a trust, there will be everything else then, and trust is built over the years, " Yevtushenkov stressed..

According to the businessman, it is necessary to " take into account the specifics of the Arab mentality, which involves very different approaches than the European or American." "It is necessary to establish friendly relations with the Arabs, human relations, which will "definitely shoot " in the near future in the form of Joint ventures and in the implementation of investment projects in Russia and in other countries. Russia has everything to offer the Arab world today, so the main goal is to establish communications," Yevtushenkov concluded.

In turn, Kirill Dmitriev , Chief Executive Officer, Chairman of the Management Board of Russian Direct Investment Fund (RDIF) stressed the importance of the RABC' activities for the development of mutual trade and joint investments with Arab countries.

"We see representatives of Arab business and States that are actively involved in this process. Thus, we have joint funds with all major Arab countries. This includes $ 10 billion that Saudi Arabia has allocated to us for joint investments, and $ 7 billion from the United Arab Emirates. For example, with the UAE we have invested in 45 profitable important projects in logistics, infrastructure, healthcare and many other areas. There is a significant potential to increase these investments, " Dmitriev said.

According to him, such important players as Sistema are also active in the Arab markets and they can offer partners high-quality goods and services in various sectors.

"Thus, in General, it can be stated that in recent years there has been a radical change in the interaction between Russia and the Arab world in the field of investment and trade, which is associated with the strengthening of Russian positions in the region", Dmitriev said.

"It is interesting for us to be present at other venues, because, despite the fact that Russia is huge, to work only within national borders means the death of any large company that claims to be a leader," Yevtushenkov commented on the sidelines of the exhibition.

According to him, Arab countries, in principle, are interested in all sectors in which JSFC operates, including high technology, pharmaceuticals and agriculture. In turn, Sistema is interested primarily in investments, as well as in the creation of localized production facilities in Arab countries. "In particular, in Saudi Arabia it is possible to build a pharmaceutical enterprise for the production of vaccines. Also, some high-tech enterprises can be created in the UAE," Yevtushenkov explained.

International exhibition "Arabia-EXPO" is held in the Central Exhibition Hall 'Manege' from April 8 to April 10. This year, it gathered 15 delegations from Arab countries and representatives of several regions of the Russian Federation. In particular, the joint stands were presented by Moscow and the North Caucasus. The event is attended by about 10 thousand people representing about 700 companies and business associations of the Middle East and North Africa, including the Saudi Investment Fund SAGIA, as well as a number of large Russian companies, including Agroholding "Steppe", Segezha Group and participants of the collective exposition of the Russian Export Center. The business program of the exhibition includes round tables on the following topics: infrastructure development, real estate and construction, financial services and trade, medicine and pharmacology, transport and logistics, education, interuniversity cooperation and tourism. Meetings of the Interstate Business Councils , business dialogues, presentations of free economic zones of Russia and Arab countries will be held.

The event is organized by the Russian-Arab Business Council with the support of the Chamber of Commerce and Industry of the Russia Federation, Ministry of Foreign Affairs of the Russian Federation , Ministry of Industry and Trade of the Russian Federation, Ministry of Agriculture of the Russian Federation, Ministry of Energy of the Russian Federation, Russian Export Center, Moscow Government, League of Arab States and the General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries. Russian-Arab Business Council has existed for more than 15 years, the head of the organization on the Russian side is the Chairman of the Board of Directors of JSFC Sistema Vladimir Yevtushenkov.

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