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Financial Corporation "Sistema"

December 1, 2003

Russian-Arabian Business Council - new instrument of partnership and dialog between business communities of the RF and the Arab countries

Moscow. 1 December, 2003. A press conference of the Russian-Arabian Business Council (RABC) today at the Russian Chamber of Commerce and Industry (CCI) devoted to the development of Russian-Arab business ties. Participants included Evegeny Primakov, President of the CCI, Vladimir Evtushenkov, Chairman of the Russian-Arabian Business Council, Chairman of the Board of Sistema JSFC, and Said Al Barami, Arab League Mission head in the Russian Federation. Cooperation between Russia and Arab states, historically of major importance to both sides, went into decline in the 1990s. But last year's summit meetings with the leaders of Saudi Arabia, Jordan, Yemen, Quatar and Lebanon created new impetus. Negotiations and several signed agreements pointed to a revival of Russian-Arab relations. The creation of the Russian-Arabian Business Council is based on growing mutual interest of the Russian Federation and Arab countries in the development of trade and economic relations and is aimed at strengthening the partnership between representatives of the Russian and Arab business communities. Objectives include a revival of historical ties and the development of trade and economic relations. RABC`s activities include the establishment of economic and financial structures to develop existing business contacts, stimulation of innovative activities, provision of consulting and legal services, industrial assistance, coordination of business` activities and development of direct contacts between RABC` members, and also exhibitions, forums, conferences and other forms of business communications. Formed only this year, the RABC has already participated in organizing the visit of Saudi Crown Prince Abdallah to Moscow in September 2003, in organization of meetings of Saudi business leaders with representatives of the Russian business comunity in July and a number of other events, aimed at development of Russian-Arab ties. Today, RABC presented its plans to the heads of diplomatic missions of Arab countries accredited in Moscow and representatives of Russian business community. Commenting on RABC's founding, CCI President Primakov said: "The Russian-Arab Business Council is destined to become an effective tool for Russian-Arab cooperation. Its creation presents one more powerful confirmation that relations between Russia and the Arab world are being re-energized." Commenting on the Council's objectives, RABC chairman Evgeny Evtushenkov said, "The Russian business community is seriously interested in dialogue with its partners in the Arab countries. We have a huge field for activity there, we are intended to develop and broaden this dialogue in all its variety and we see significant potential for development of economy in our countries." The Russian-Arab Business Council, founded by the Chamber of Commerce and industry of the Russian Federation, was established in August 2003 in order to realize tasks stemming from inter-government treaties and agreements between Russia and the Arab countries and with the purpose of promoting contacts between the business communities of Russia and the Arab region with the view to improving cooperation and mutually beneficial economic relations. The starting point in the development of RABC was conclusion of the Agreement of Cooperation by chairman of the Chamber of Commerce and Industry of the Russian Federation and President of the Chambers of Commerce, Industry and Agriculture of the Arab Countries Khaled Abu Ismail. The two sides have agreed to establish two permanent business councils: the Russian-Arab Business Council in Moscow and the Arab-Russian Business Council in Beirut. The largest Russian companies ("RAO UES", "SUAL -Holding", "LUKoil", "Aeroflot", "Vneshtorgbank", among others) are RABC members. For further information: Tel.: 929-0313 Fax: 929-0255 E-mail: tnalin@tpprf.ru

 

 

 

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