Belarus was the most active partner of the Arab countries of the CIS

Report (*.pdf) “the General welfare: creating a connection between the Persian Gulf and CIS countries” is dedicated to the Global business forum, held in Dubai on 18-19 February. The authors of the report were representatives of the Dubai chamber of Commerce and industry non—governmental organization that unites businessmen from the UAE and representing their interests. “The report will serve as a road map for investors from the Persian Gulf. It contains information about the economic and business climate in CIS countries”, — quotes the edition of Khaleej Times the head of the chamber of Hamad Buamim.

The report argues that the most active country among the CIS member States on the conclusion of trade agreements with the countries of the cooperation Council for the Arab States of the Gulf (Bahrain, Qatar, Kuwait, EAD, Oman and Saudi Arabia) is Belarus. Russia occupies only the second place, Uzbekistan — third. From countries of the Persian Gulf, according to the report, the most active UAE and Kuwait.

As the key areas of investment in the CIS countries of the Persian Gulf, the report identifies aviation, logistics, hospitality, retail and real estate.

According to data for 2014, which are listed in the report, the trade volumes between CIS countries and the Persian Gulf were small — only $8 billion.

The Dubai chamber of Commerce and industry believe that a promising direction for investment in the CIS is Islamic banking, given that the CIS has a population of about 82 million Muslims (twice more than in the countries of the Persian Gulf).

The report also noted that additional opportunities for investment is the privatization program in Russia and Kazakhstan.