Surge of Russian companies flocked to UAE market in recent years: Official

ST. PETERSBURG, 5th June, 2024 (WAM) -- Sergey Gorkov, Chairman of Russia-UAE Business Council, said that a surge of Russian companies, spanning a wide range of industries, have flocked to the UAE market in recent years.

According to TASS News Agency, Gorkov made the remarks on the sidelines of the St. Petersburg International Economic Forum which kicked off today, explaining that thousands of Russian companies are engaged in one way or another in commercial activities in the UAE in various sectors, including information technology, pharmaceuticals, manufacturing, oil & gas, and petrochemicals.

He added that the Russian Federation and the United Arab Emirates are working to increase the volume of their trade exchanges, which, he said, will approach $10 billion by the end of this year.

The four-day 27th edition of the event runs under the theme ‘The Foundations of a Multipolar World – The Formation of New Areas of Growth’.