On first day of International Industrial Exhibition INNOPROM-2016 Development Corporation of Middle Ural and Free Trade Zone of Ras Al Khaimah (RAK FTZ & Ras Al Khaimah Investment Authority) have signed a Memorandum on Cooperation. Two Parties represented by DCMU Director General Dmitry Popov on one side and by Izzat Barakat, RAK FTZ & RAKIA Head, on the other side consented to further develop trade and economic relations. In order to promote cooperation DCMU and RAK FTZ will exchange information on capital markets, modern export/import trends, leading industry events and investment projects regularly. The Memorandum stipulates mutual promotion of Sverdlovsk Region and RAK FTZ as business-friendly territories to companies of Russia and UAE. This agreement also confirms a readiness of both Parties to disseminate information on setting up business projects in Russia and UAE, to assist in exchange of business contacts and to provide consultations to businessmen on acquiring a resident status in business parks.
According to the agreement a Working group functioning on the regular basis will be organized – it will represent investment interests of two countries, ensure information exchange, and plan joint events and business meetings.