Russian delegation meets Dubai World officials

The delegation was received by Mr. Jamal Majid bin Thaniah, Executive Vice Chairman DP World and Group CEO Port & Free Zone World, Mr. Farid Mohammed Ahmed, Secretary General, Dubai World, and a number of senior officials from different Dubai World subsidiary companies.

The members of the delegation were briefed on the various areas of operation by the Dubai World companies and were introduced to the group's diversified portfolio spanning four strategic growth areas: Transport & Logistics, Drydocks & Maritime, Urban Development and Investment & Financial Services.

Mr. Farid Mohammed welcomed the leaders from St Petersburg. "The UAE and Russia have close economic ties. Like Dubai, St Petersburg also has close maritime affinities. Both cities are strategically located on crucial trade routes, and Dubai World is more than happy to brief the delegation on how we could translate our natural advantage into economic achievements."

"Trade relations between Dubai and Russia have reached new heights over the past years. The statistics issued by Dubai World's Statistics Department show that the total non-oil foreign trade between both parties in 2007, including free zones and customs warehouses, amounted to about Dhs4,745bn," he added.

Apart from Ms Valentina Matvienko, Governor, the delegation also included Vitaly Yuzhilin, Deputy Governor, St.Petersburg, Alexander Polukeev, Vice Governor, Yuri Molchanov, Vice Governor, Alexander Prokhorenko, Chairman of the Committee of International Relations, Andrey Kobzar, Head of the office, First Quantum Petroleum Ltd, Shavkat Kary-Niazov, President, Marine Façade, Arkadiy Stein, Marine Façade, Andrey Zakharov, Russian Ambassador to the UAE, and Sergeay Krasnogor, Consul General of Russia in Dubai.

Dubai World has recently been exploring major investment possibilities in marine terminals, logistics and rail transport with Russian partners. The group has entered into agreements on various projects through its subsidiaries.

Limitless, the international urban development arm of Dubai World, is building a new 18,000 hectare Russian city, called Great Domodedovo, near Moscow, which is one of the largest real estate projects in the world.

Port & Free Zone World, another Dubai World company, recently signed a co-operation agreement with Russian Railways to explore the development of supply chain infrastructure in Russia.

DP World has a Joint Venture agreement with Vostochny Port for operating the Vostochny International Container Services (VICS), which is strategically located at the Pacific Terminus of the Trans Siberian Railway.