INCONA and Delovaya Rossiya held a joint seminar in Penza «Business in the UAE»

On November 26, the Export Committee of Delovaya Rossiya and the consulting company INCONA held a joint seminar in Penza on the topic «Doing business in UAE. Challenges and opportunities for Russian companies in the markets of the Gulf countries». The event was held as part of a three-day training «Export Marketing» for the heads of Russian centers for coordinating support for export-oriented small and medium-sized businesses.

Alexey Busev, General Director of INCONA, addressed the representatives of the Russian regions. During his report, he spoke about the economic potential of the Arab countries of the Gulf and about the opportunities that open up for Russian business in the UAE. A.Buseva elaborated on those sectors and sectors of the domestic economy whose products are highly competitive: electric power, information technology, instrumentation, water treatment, chemical industry, etc.

A.Busev paid special attention to the United Arab Emirates. He said that this country is the leader of the region. The standards and technologies applied in the UAE are duplicated in other countries of the Gulf. There are no corporate taxes in the UAE and taxes on personal income, a low duty on the import of goods. The UAE’s transport and logistics infrastructure is recognized by international experts as one of the best in the world. A.Busev noted that the UAE is the optimal place for Russian companies to enter the Gulf market.

The heads of export centers were interested in what difficulties Russian business faces when trading in the UAE. A. Busev said that domestic companies do not have international certificates and licenses necessary to work in a foreign country. In addition, Russian businesses are not ready to disclose financial information and audit data. An equally important problem is the language barrier. A.Busev said that these obstacles are overcome with a properly structured strategy of entering the foreign market.