As many as 3,000 Russian businesses are planning to invest in the UAE, with the lion's share going to Dubai, said a top official.

“The Russian Federation strives to boost economic relations with the UAE as well. Russian businesses possess a solid presence in UAE markets,” added Gocha Buachidze Consul General of the Russian Federation in Dubai.

He was speaking at Irtibat, a meeting initiated by Dubai Customs to nurture closer ties with foreign business communities based in the Emirate.

Dubai Customs received a dignitary delegation from the Russian Federation and Russian Business Council in Dubai. The delegation also comprised representatives from Russian businesses based in Dubai.

“The Dubai-Russia trade in the first nine months of 2014 amounted to Dh7 billion ($1.9 billion), while in 2013 it scored Dh11 billion ($2.9 billion),” said Ahmed Mahboob Musabih, director of Dubai Customs.

“Facilitating business flow into the Emirate comes in line with Dubai Plan 2021, which aims at setting a strong foothold for Dubai on the regional and global trade landscape.”

“Dubai Customs constantly seeks to enhance its relationships with foreign business sectors in support of Dubai’s economic growth. In light of the recently-launched Dubai Strategic Plan 2021, the emirate’s economic perspective consists in further facilitating business growth to uphold Dubai’s regional and global position as a hub of trade, travel and services – which will subsequently provide a strong and integrated basis in preparation for hosting World Expo 2020,” he stated.

Musabih highlighted that Dubai provides a flexible variety of investment platforms in compliance with investors’ specific needs, whether running their Dubai-based businesses within the boundaries of the free zones or elsewhere in the open market venues.

Edris Behzad, client management director at Dubai Customs, said that they are seeking to improve communication with the Russian Business Council and Russian companies, as part of DC’s Irtibat initiative. “We will arrange for more meetings with Russian businesses to get a closer perspective on their work requirements, in a bid to deliver better tailored customs services to them,” Behzad added.  – TradeArabia News Service