Final Communique of the First Session of RABC

01/25/2004

Under the auspices of Prime minister of Arab Republic of Egypt Atef Obejd, by invitation of Federation of the Egyptian Chambers of commerce during the period of 24 - 25, January, 2004, the first joint meeting of the Russian Arab Business Council (RABC) in works of which participated members from both Russian and Arab Parties (the list of whom is attached) took place in Cairo.

The opening session was addressed by Prime minister of Arab Republic of Egypt Atef Obejd, minister of supplies and internal trade Hassan Hedr, President of Chamber of Commerce of Russian Federation E.M. Primakov, President of Federation of Egyptian Chambers of commerce, Chairman of Arab Part of Arab Russian Business Council Khaled Abou Ismail, Chairman of Russian Part of Russian Arab Business Council V.P. Evtushenkov, President of General Union of Chambers of Commerce, Industry and Agriculture for Arab countries Abdelhakim Kemmu, Vice-president of GUCCIAAC Adnan Al-Kassar.

All the speakers noted the importance of Russian Arab Business Council in development of the Russian-Arab trade and economic relations and giving a new impetus to them, thus meeting the mutual interests of Russian Federation and Arab countries.

Discussions and disputes resulted in reaching the both Russian and Arab Parties the common position on the following major provisions:

1. The Russian-Arab trade and economic relations, though they had recently been developing; nevertheless they do not fully comply with the opportunities available at both Parties. Therefore, it is obviously necessary to apply even more efforts to use to the utmost the available opportunities, especially by execution of joint industrial and marketing projects.
2. The lack of information limits perspectives of the trade and investment exchange between Russian Federation and Arab countries. It is necessary to conduct work on an exchange of the basic information concerning the modern trade and economic development in Russia and Arab countries. It is expedient to study the possibility to edit the joint bulletin in Russian and Arabic languages in order to publish information on commercial deals and investment opportunities.
3. The transparency atmosphere is supposed to simplify and facilitate exchange of goods and services, especially in the fields of science, technique and technology which became the axle elements of process of industrial and agricultural growth.
4. It is important to endeavour and make efforts for backing up the joint investments, especially the industrial projects, in which resources and technological experiences in the sphere of modernization of industrial and agricultural production available at both Parties would be exploited.
5. It is necessary to exert the maximum efforts aimed at increase of exports, and for this purpose to stimulate the companies in promotion of their production.
6. An exchange of trade delegations and arrangement of exhibitions, especially, fairs of the goods that are of a great demand in Russia and Arab countries are significantly important, this being the case it will be wise to carry out these exhibitions during joint sessions of the Council.
7. Considering the ever growing value paid to the small-scale and medium-scale enterprises, cooperation and coordination of efforts in this area are becoming of a special importance, the same thing pertains the production cooperation.
8. It is necessary to arrange measures for improvement of transportation and communication between Russian Federation and Arab countries, thus booming the trade exchange and cooperation in the area of tourism.
9. To facilitate transactions and transfers accompanying the process of the trade exchange and to provide for the required credit financing, it is important to develop cooperation in the financial sphere, especially in opening of the branches of Arab banks in Russia.

The Council has expressed its interest in restoration of Iraqi economy and calls the Arab and Russian businessmen to cooperate in this issue.

The Council has noted the importance of development of relations between the Russian Chamber of Commerce of Russian Federation and the chambers of various Arab countries within its on framework and bilaterally.

The Russian Arab Business Council decided to hold the second joint session in Russian Federation in the last decade of June, 2004, and the third joint session - in Beirut, Lebanon, in January, 2005.

The Council expresses the deep gratitude to Federation of Egyptian chambers of commerce in the name of its Chairman Khaled Abou Ismail for the considerable efforts he personally made for tuning of cooperation, organization of this session, hearty welcome and hospitality.

The communiqué was signed by Chairman of Russian Part of Russian Arab Business Council Evtushenkov V.P. and Chairman of ArabPart of Arab Russian Business Council Khaled Abou Ismail Cairo, January 25, 2004