Dubai – MENA Herald: Jebel Ali Free Zone (Jafza), the flagship Free Zone entity of Dubai and a globally renowned trade and logistics hub for the wider Middle East region, has recorded a significant year-on-year rise in its bilateral trade with Russia. In the last 5-years Jafza-Russia trade has seen 4-fold increase rising from USD 106 million in 2010 to USD 413 million in 2014. The Russia-Jafza trade in the last fiscal saw an impressive 40% increase.
To further strengthen its bilateral trade relations Jafza is conducting a 4-day roadshow in Russia which will cover two of the federation’s major cities Moscow, the country’s capital and Russia’s largest economic and political centre; and St. Petersburg, Russia’s leading transport and commerce hub.
During the roadshow in Moscow Jafza will be hosting a Business Seminar and an investor workshop, organised for Russian companies, interested in the UAE and the rapidly growing Middle East markets, which Jafza as a business hub serves. During the roadshow in St. Petersburg Jafza officials will be conducting B2B meetings and investor workshops. The Jafza team for the roadshow includes Tariq Bin Ghalaita, Vice President, Europe and UAE Region, Abdulaziz Al Redha, Manager, Jafza Sales and Hamda Al Abbar, Senior executive, Jafza Marketing and Communications.
HE Sultan Ahmed Bin Sulayem, Chairman DP World and Ports, Customs and Free Zone Corporation, commenting on Jafza Roadshow in Russia said: “Russia and the UAE enjoy a robust bilateral relation that goes back to year 1971 when diplomatic relations were established between the two countries. Both the states have common desire to strengthen cooperation in various fields including trade and commerce and mutually beneficial investments.
“In terms of bilateral trade, I believe, there is a huge potential for collaboration between the Russian Federation and the UAE. The Jafza Roadshow in Russia is an important step forward in that direction. Jafza is the gateway and an efficient facilitator to reach and serve rapidly growing markets in West Asia, Africa and the Indian Subcontinent. It is, therefore, the right location for Russian businesses and investors to be in, that are interested in expanding their operations in newer markets.
“The evolution of Jafza as a world-class innovation-driven logistics hub and a favoured investment destination is in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to position the Emirate as a top business hub in the world.”
Ibrahim Mohamed Al Janahi, Jafza Deputy CEO and Chief Commercial Officer, said: “The roadshow in Moscow and Petersburg will highlight huge opportunities for Russian businesses in the UAE and the other countries in the GCC across all business sectors spanning from healthcare, technology, engineering, transportation, oil & gas to infrastructure development. EXPO 2020 in Dubai has given further impetus to construction and other business activities which unfolds greater opportunities for Russian investors.”
Russia-Jafza bilateral trade is currently dominated by base metals followed by machinery, electrical and electronics equipment, plastic and rubber products, prepared foodstuff and transport equipment. The opportunities for Russian investors in Jafza are, therefore, huge, which must be capitalized on, Al Janahi added.