Dubai World Vice Chairman holds talks with Russian Minister in Moscow

Mr Bin Thaniah made the remarks during a meeting with HE Igor E Levitin, Minister of Transport of the Russian Federation, where they discussed existing and emerging business opportunities in Russia, particularly in the ports, shipping and logistics sectors.

The Minister gave a presentation on the Russian Federation's plans for the integrated development of the Russian transport sector, including some specific, ambitious projects. He expressed interest in developing a major inland port and special economic zone on the outskirts of Moscow, possibly as a joint venture with Dubai World.

The Dubai World delegation in turn gave a detailed presentation of the group's investment activities, with specific focus on achievements and plans in integrated developments in the shipping and logistics segments of the industry across the world.

Mr Bin Thaniah said: "Russia is a fast developing and very resourceful market. We are keen to expand our business presence here, especially in the marine services and special economic zones sectors. We will initiate the process by empowering our team to conduct high level discussions with Russian officials.

"We thank our hosts, especially HE Igor Levitin, for the hospitality shown to us. We also take this opportunity to invite His Excellency and his team to visit Dubai in the near future to further strengthen our relations."

Welcoming Mr Bin Thaniah, the Russian Minister of Transport said: "We believe Russia could learn a great deal from Dubai's development experience. We invite Dubai World to seriously consider the investment potential in Russia.

"During my visits to Dubai I have been impressed by the dynamism of your great Emirate, especially the role Jafza has played as the region's logistics hub. We wish to see Dubai World companies such as DP World and Jafza represented prominently on Russia's industrial map."

Reflecting the high level of importance attached to Mr Bin Thaniah's visit, the host delegation to the talks included several high-ranking officials, including Petr D. Katsyv, Vice Chairman of the Moscow regional Government and the Minister of Transport of the Moscow Region, Alexander A. Davydenko, Head of Federal agency of Maritime and River Transport, and Yulia V Zvorykina, Head of department of Economics and Investments.