09/05/2006

St.Petersburg, September 4-5, 2006

The Sixth Session of the ABC was held at the initiative of the RF CCI in St.Petersburg on Sept. 4-5, 2006, and attended by the Council’s Russian and Arab members.

Taking part in the Session was aide to RF President, I.Shuvalov, who conveyed a greeting from RF President, Vladimir Putin.

The opening ceremony comprised addresses by:

• St.Petersburg Governor, V.Matviyenko;
• Representative Plenipotentiary of RF President in South-Western Federal District, Klebanov;
• Representative Plenipotentiary of RF President in Volga Federal District, Konovalov;
• Representative Plenipotentiary of RF President in Southern Federal District, D.Kozak;
• President of the Council of the General Union of CCIs for Arab countries, A.Kassar;
• Advisor to RF President, A.Aslakhanov;
• Chairman of the RABC Arab part, President of the Council of CCIs for the Kingdom of Saudi Arabia, A.Rashed Al-Rashed;
• Chairman of SISTEMA Board of Directors, V.Yevtushenkov.

All speakers re-affirmed the need for building up trade and economic as well as friendship and co-operation ties between the Russian Federation and the Arab world, as well as for seeking new ways of collaboration and interaction.

Special emphasis was laid on the part to be played by the RABC in achieving these goals, and in putting forward specific proposals aimed at propelling Russian-Arab relations up to a qualitatively new level as soon as possible. This is to be facilitated by a system of bilateral councils operating for the benefit of mutual interests with due consideration taken of the peculiar nature of each particular country, which will eventually contribute to the RABC joint effort.

A discussion of Russian-Arab trade and economic relation, which followed the addresses by Director of the RABC Russian part, T.Gvilava, and by Secretary general of the General Union of Chambers of Commerce and Agriculture for Arab countries, I.Ghantous, was another evidence to the fact that these ties have developed as a result of numerous factors that worked in the past, are working now and, hopefully, will grow even stronger in the future. These ties, which have already become indispensable for both sides, need streamlining, the spectrum of lines of collaboration in industry and technology being as it is very ample.

Taking into account the proposals and wishes voiced by the speakers at the plenary meeting of the RABC Sixth Session as well as at the meetings of bilateral councils, the participants agreed as follows:

1. There is a need for further broadening and intensifying of Russian-Arab cooperation with the aim of building relations based on strategical principles with due consideration of ever-changing Russian and Arab economic realities.
2. Realistic economic partnership between Russian and Arab countries is to be established in order to increase the turnover of commodities and investments on a mutual basis, industrial projects will be developed, able to meet the present and future economic challenges within the framework of the “open door” policy pursued by the two sides in order to give the private sector a more important part to play in accelerated economic growth rates.
3. Further promotion of industrial and investment cooperation, particularly in sectors of reciprocal interest (tourism, financing & banking, a wide range different of services).
4. In this respect the Council re-iterated the crucial role to by played by a yet-to-be created Russian-Arab investment fund which will be instrumental in canalizing investment flows for better use of natural resources, building a powerful industrial basis and organizing technology transfers.
5. The crucial role played by the RABC as a tool for the development and strengthening of Russian-Arab ties for the benefit of both sides needs to be emphasized. Let alone its importance as a center of business activities and communication as well as a provider of information concerning any opportunities available for investment and for goods turnover for the Russian and Arab sides.
6. Bilateral Russian-Arab business councils are more than instrumental in intensifying the Russian and Arab private sectors in order to implement development and investment projects and enhance interaction on a mutually advantageous basis. The RABC encourages any effort for the further creation of bilateral councils so that they involve all Arab countries and broaden the scope of co-operation with Russia.
7. Equally important is the Russian-Arab banking cooperation to build up both import and export commodity turnover thanks to branches of Arab banks opened in Russia, to joint ventures established with Russian banks and to the formation of a Russian-Arab bank.
8. Capital investments in science-intensive sectors will be encouraged to update and modernize the economies wherever necessary, with priority being given to investment in science, education, IT and communication.