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Veronika Nikishina: We’ve doubled our exports to Arab countries

19 november 2020

Veronika Nikishina: We’ve doubled our exports to Arab countries

At the Business Forum on Russian-Arab cooperation in food security and opportunities for trade and investment, Veronika Nikishina, General Director of REC, stated that Russia has doubled its exports to Arab countries.
She emphasized that over the past decade there is an upward trend in exports of Russian goods to Arab countries. That is, while in 2010, exports amounted to only $8B, in 2019 it reached more than $16B.
Today Russia is engaged in a number of large export projects in the region. For example, it supplies thousand railroad passenger cars to Egypt for a total of €1B. To date, more than a hundred cars have already been shipped, and their number will reach two hundred by the end of this year.
REC Director emphasized a close cooperation with Egypt. Russia has started to create an industrial zone near the Suez Canal. Its residents will be able to localize their production facilities close to African and Middle Eastern markets.
Moreover, the performance results of the tasting pavilion in the UAE were summed up. The tasting pavilion allowed to conclude export contracts worth almost $400,000. To expand its export potential, REC is planning to open an online store of Russian goods in B2B format.

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