His Excellency Abdallah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade, received Linar Yakupov, Chief Executive – Tatarstan Investment Development Agency from the Republic of Tatarstan. During the meeting His Excellency stressed the importance of developing economic relations, investment and bilateral trade ties with countries in the Islamic world.
His Excellency Fahad Al Gergawi, CEO of Dubai Foreign Direct Investment (FDI), the foreign investment promotion office at the Department of Economic Development (DED) also attended the meeting along with officials from the Ministry of Economy.
The meeting reviewed the ongoing preparations for the UAE’s participation at the Kazan Summit, an International Summit on Economic Cooperation between the Russian Federation and the Countries of the Organization of the Islamic Conference (OIC).
Scheduled to be held from June 5-6, 2014 at the Republic of Tatarstan, the Kazan Summit seeks to improve and deepen the economic, trade and investment ties between the Russian Federation and OIC member countries through facilitating dialogue on trends in business, investment and trade in Russia and in the OIC countries.
During the meeting, the two sides discussed the importance of the UAE’s participation in the Kazan Summit. His Excellency Al Saleh said that a high-level delegation including prominent figures from the government and private sector across the emirates will represent the UAE at the summit.
Pointing out that UAE’s participation at the June summit will mark its fourth outing to the event, His Excellency Abdallah Al Saleh said the summit provides a strategic platform to strengthen economic, trade and investment relations between the Russian Federation and the Islamic world.
The summit, to be graced by His Excellency Rustam Minnikhanov, President of the Republic of Tatarstan, is set to draw the participation of key decision makers from the UAE and Republic of Tatarstan. The Kazan Summit will also witness the attendance of senior officials, not only from the OIC member countries, but also from CIS countries and the EU, specially focused on investment and export promotion.
The Undersecretary of the Ministry of Economy of the Foreign Trade Sector explained that the summit will address many issues related to investment and trade cooperation between the OIC member states and the Russian Federation including food security, integration of food production among Islamic countries, investment in the Islamic halal food industry, and transportation, shipping and storage. He also said that the Kazan Summit will serve as a platform to facilitate the global market entry of products.
His Excellency Al Saleh pointed out that the UAE-Tatarian Business Forum, which will be held on the sidelines of the summit, will focus on stepping up trade and commercial cooperation between the two countries. During the forum senior leaders will seek to identify investment opportunities between the UAE and the Republic of Tatarstan, in several sectors such as real estate, industrial investment, agriculture, aviation and hospitality.
For his part, Linar Yakupov reaffirmed Tatarstan’s commitment to enhancing relations with the UAE, pointing out that air traffic between the two countries is on the rise, especially after the launching of flydubai’s direct flights to Kazan in 2011. He noted that this crucial step will propel cooperation across all sectors of the economy and facilitate better communication between businessmen in both countries. He added that the government of Tatarstan was keen to attract outbound tourists from the UAE.
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Nael Abdul Aziz
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