July 30, 2013 managing partner of Incona company, Alexey Busev, participated in the seminar of Russian chamber of commerce and industry «Practice of the UAE market integration: Challenges and opportunities of Russian business». Representatives of Russian CCI, Russian Ministry of economic development and representatives of Russian business also attended the seminar. Director of Department of external relations and work with business councils, Vladimir Padalko, in his introduction speech noted the growing interest from the business community in the UAE market. He also noted the interest of the UAE in equipment imported from Russia.
Over 100 participants attended the seminar. Seminar live broadcast showed the interest of the territorial chambers of Commerce and entrepreneurs from different Russian regions. During the event, a wide range of issues connected with the practice of doing business in the UAE was examined. Nowadays the United Arab Emirates are the center of business activities in the Arab world, that’s why there is a growing interest of doing business in this UAE.
Speech of Incona’s managing partner, Alexey Busev, was devoted to analysis of the Persian Gulf market. During his speech, he also reviewed main benefits of the United Arab Emirates. He told that entrepreneurs who are going to start business in the UAE, have great opportunities throughout the region, because countries of the Persian Gulf share a common customs system, industry standards, rail and electricity networks. Alexey Busev paid special attention to dispelling stereotypes surrounding the United Arab Emirates in the minds of Russian business. According to his statement, there is no dominance of the oil and gas industry in the GDP of the country; sector actually represents only a third part of it. That is why the delivery of equipment from Russia into the UAE has good prospects.
Alexey told that there is great competition opportunities in the UAE and other GCC countries markets. There is a high demand in such sectors as water purification, refrigeration equipment, food, security, electrical engineering and measuring devices, energy saving and alternative energy etc.
In the end of his presentation, A.Busev told about the most serious problems, which often appear when Russian companies are doing business in UAE. One of the main problems is ignorance of the law of the UAE. Also Russian producers often don’t have marketing strategies, there is absence of quality management system, international certification and licenses. And the main obstacle is the language barrier.
This seminar strengthened the cooperation between Incona Company and Russian CCI in the field of increasing the interest of Russian entrepreneurs who are going to do business abroad. Earlier this year, in February, Russian CCI organized a seminar « Opportunities for promotion of Russian products to Middle East markets” » in which Incona’s partner Eugene Golotsan also made a presentation.