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  Monday, August 19, 2019
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An Arab business group is interested in developing relations with Russia
An Arab business group is interested in developing relations with Russia and plans to participate actively in the St. Petersburg economic forum to be in June, a member of the Arab-Russia Business Council said.

The St. Petersburg International Economic Forum will be held on June 4-6 in Russia's second largest city and will focus on the topical issues of global economic development, in particular, new approaches to the understanding of the future of international financial institutions, the prospects for banking activity and Russia's role in fighting the global economic crisis.

"This is one of the largest global forums, which has been held on a regular basis for over ten years and brings together not only influential business people but also heads of states," Adnan Kassar, the head of the General Union of Arab Chambers of Commerce, Industry and Agriculture, told RIA Novosti.

This year, the forum's program will include business dialogue on Russia and the Arab world, focusing on the creation of an investment fund with Russian and Arab capital to finance joint projects.

"An investment fund is an effective instrument and we intend to back this idea," Kassar said, adding that investment in the Russian economy was very attractive at this stage and Arab business leaders would show great interest in the St Petersburg forum.

Kassar said that current trade between Russia and Arab states, which amounts to $8 billion, was insufficient and needed to be increased.

"I believe that the figure of $8 billion is insufficient and we want bilateral trade to amount to $10-12 billion," Kassar said.


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