Cooperation between "Stand up" And the Emirati-Russian Business Council to enhance business partnerships

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Ras Al Khaimah, December 19 / WAM / The Ras Al Khaimah Economic Zones Authority (RAKZ) signed a strategic memorandum of understanding with the Emirati-Russian Business Council, with the aim of enhancing joint cooperation, expanding the scope of bilateral trade exchange, and supporting long-term partnerships between the business communities in both the UAE and Russia.

The memorandum was signed on the sidelines of the Emirati-Russian Business Forum, in the presence of His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Tourism, and His Excellency Anton Alikhanov, Russian Minister of Industry and Trade.

The memorandum was signed by Rami Jallad, CEO of RAKEZ Group, and Alexander Vinokrov, Chairman of the Emirati-Russian Business Council, which established an organized framework to support Council members and RAKEZ clients in exploring new business opportunities.

The partnership focuses on increasing and diversifying bilateral trade, with special attention to non-oil goods and services, in addition to strengthening RAKEZ’s position as a competitive platform for Russian and Emirati companies wishing to support mutual trade and access new markets.

Jallad said that this memorandum reflects the depth of the growing economic relations between the UAE and Russia, and the joint keenness to transform opportunities into tangible economic results, pointing out that RAKEZ provides an integrated business system that supports access to markets efficiently, enables companies to expand sustainably, and gives them access to the most important regional and global trade corridors.

He explained that this partnership with the Emirati-Russian Business Council contributes to creating an effective framework to support companies in expanding their commercial activities, enhancing the flexibility of supply chains, and building long-term partnerships.

On the sidelines of the forum, Jallad participated in a discussion session on the future of trade and logistics services, during which he reviewed the advantages that Russian companies can benefit from when establishing their businesses in the Emirate of Ras Al Khaimah. He also highlighted the procedures and initiatives that RAKEZ provides to support investors when they enter and expand in the UAE market.

RAKEZ currently includes about 1,000 Russian companies operating in multiple sectors, including management, consulting, real estate, trade, holding structures, digital services, and information technology.

With the volume of trade exchange between the UAE and Russia expected to exceed 10 billion US dollars by the end of 2025, the memorandum of understanding opens additional horizons for cooperation in vital sectors, including manufacturing, logistics, agriculture, digital technologies, health care, and investments.