On November 26 export committee of « Delovaya Russia» and consulting company INCONA held a joint seminar in Penza. Main topic for discussion was «Doing business in UAE. Challenges and opportunities for Russian companies in the markets of the Gulf countries ». The event was held in the framework of the three-day training «Export marketing. Seminar was adopted for principals of Russian coordination centers of export supporting for small and medium-sized businesses.
Speech for representatives of Russian regions was made by managing partner of INCONA Alexey Busev. During his report he told about economic potential of the Arab region and about opportunities which can be obtained by Russian companies after integration in Arab markets. A.Busev emphasized an importance of high competitive sectors and branches of the national economy: electric power industry, information technologies, instrument-making, water treatment, chemical industries, etc.
A.Busev v paid special attention to the United Arab Emirates. He pointed out that the UAE is the leader of the region. Standards and technologies which are applied in the UAE – are duplicated in other Gulf countries. In the UAE there are no corporate taxes and taxes on incomes of physical persons, also there is low duty on the import of goods. The UAE transport and logistical infrastructure is recognized by international experts as one of the best in the world. A.Busev noted that the United Arab Emirates are optimum a place for Russian companies’ entry into the market of Gulf States.
Leaders of export centers were interested what difficulties can appear when Russian businesses enter the United Arab Emirates market. A.Busev reported that Russian companies don’t have international certificates and licenses which are necessary for working in a foreign country. Besides, the Russian businesses aren’t ready to show financial information and data for audits. Another important problem is the language barrier. A.Busev declared that these obstacles can be overcome with properly structured strategy of entering foreign market.