The UAE as the main guest country at the Saint-Petersburg International Economic Forum’23: key events and results

The St. Petersburg International Economic Forum was held in St. Petersburg from June 14 to 17. More than 17 000 people from 130 countries took part in the SPIEF events over four days.

This year the UAE delegation of 200 people headed by the UAE’s President His Highness Sheikh Mohamed bin Zayed Al Nahyan arrived at the Forum.

Russian President Vladimir Putin held a meeting with the President of the UAE, at which the parties noted the enormous prospects for the development of economic relations between the two countries. In particular, Putin recalled the project to create an industrial zone in Egypt on the banks of the Suez Canal, and Sheikh Zayed noted that the UAE is ready to assist the Russian Federation in all areas.

Also during the Russia-UAE business dialogue, Deputy Prime Minister — Head of the Ministry of Industry and Trade of Russia Denis Manturov, noted the need to create production facilities of Russian companies in the United Arab Emirates to supply Russian products to the GCC countries.

The implementation of this idea should also be the Eurasian Trade and Industrial Hub, the concept of which was presented at the SPIEF by the Russian-Emirates Business Council (REBC). The Council’s presentation also announced the imminent launch of an IT hub and a Cultural center in the UAE.

Summing up, it can be stated that the focus on the Middle East market was presented more vividly than ever at the latest Forum. This was comprehensively discussed during the sessions dedicated to attracting investments through Islamic banking, the development of the halal products industry, the payment systems industry, etc.