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Friday, June 14, 2024

RAKEZ paves way for UAE-Russia economic cooperation during St. Petersburg visit


Ras Al Khaimah: Representatives of the Ras Al Khaimah Economic Zone (RAKEZ) recently joined the UAE Ministry of Economy delegation attending the 2023 St. Petersburg International Economic Forum (SPIEF) in Russia. The visit aims to explore new cooperation opportunities and strengthen economic ties between the UAE and Russia.

During SPIEF, Anas Hijjawi, Chief Commercial Officer of RAKEZ, participated in a panel discussion titled “UAE Industrial Cluster: New Opportunities for Russian Exporters”. The discussion sheds light on how RAKEZ, one of the largest and fastest growing regional economic zones, can serve as a strategic platform offering new avenues for Russian exporters seeking to expand their production facilities in the current geopolitical landscape.

During the panel discussion, Hijjawi highlighted the numerous advantages and preferences that the UAE economic zone offers Russian investors, including a business-friendly environment, strong infrastructure, opportunities for cooperation, access to modern facilities, and a wide range of support services. He emphasized the importance of conducting market research, forming strategic partnerships, adapting products to local needs, and developing aggressive marketing and promotional activities for Russian companies seeking to enter the UAE market.

In addition, he emphasized the importance of establishing a Russian cluster within the economic zone, citing the benefits of enhanced cooperation, access to professional resources, networking opportunities, streamlined government support, and the development of a state-of-the-art industry ecosystem.

During SPIEF, RAKEZ and Business Russia signed a Memorandum of Understanding (MoU), paving the way for strengthening trade, economic, scientific and technological relations between the UAE and Russia.

The memorandum of understanding, signed by Hijjawi and Business Russia Chairman Alexey Repik, aims to encourage closer ties between the two entities, boost economic growth, and facilitate active participation in business events organized by the two countries. It also facilitates the exchange of information in areas of mutual interest, including economics, foreign trade, changes in laws, regulations, anticipated projects and areas of interest, thereby promoting a stronger partnership between RAKEZ and Business Russia.

Ramy Jallad, CEO of RAKEZ Group, said: “We are delighted to enter into this mutually beneficial collaboration with Business Russia as this is an important milestone in strengthening trade and economic relations between the UAE and Russia. New avenues of collaboration, knowledge sharing and business opportunities between the two countries open up. We look forward to a productive partnership that will benefit companies in both regions and contribute to the growth and prosperity of our respective economies.”

Today, RAKEZ hosts about 800 Russian companies operating in different fields, from start-ups and SMEs to large manufacturers.


For more information please contact: Cleo Eleazar, RAKEZ Public Relations and Events Manager
Email: c.eleazar@rakez.com

About the Ras Al Khaimah Economic Zone (RAKEZ):

RAKEZ is a strong commercial and industrial center established by the government of Ras Al Khaimah, United Arab Emirates. It currently has more than 18,000 companies from more than 100 countries and more than 50 industries.

RAKEZ offers entrepreneurs, start-ups, SMEs and manufacturers a wide range of solutions, including free zone and non-free zone licenses, customizable facilities, and first-class services from a one-stop shop. In addition, RAKEZ has dedicated zones tailored to the specific needs of investors: Al Nakheel and Al Hamra Business Zones for business and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists ; and academic districts of education providers.

As a leading economic zone, RAKEZ aims to continue to attract diverse investment opportunities and contribute to Ras Al Khaimah’s economic growth.


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