Russian-Arab Cooperation Forum to bolster ties between countries - Lavrov

MOSCOW, April 8. /TASS/. The Russian-Arab Cooperation Forum due to be held in Moscow on April 16 will strengthen relations between countries and contribute to their further development, Russian Foreign Minister Sergey Lavrov said on Monday. "Further deepening mutually beneficial practical cooperation will substantially strengthen the basis of Russian-Arab relations and give a fresh powerful impetus to their development in the future," he pointed out at a session of the Russian-Arab Business Council titled "Russia - Arab World: Time to Cooperate for a Common Future". He also stressed that the political dialogue between Russia and Arab countries was complemented by mutually beneficial economic partnership. The minister recalled that the volume of trade between Russia and Arab countries grew more than 8% last year to reach $22bln. "Together with their Arab partners, Russian companies are currently implementing over 400 investment and export projects to the tune of $40 bln," Lavrov said. He also pointed to some projects in Arab countries that involve Russian companies. "The Rosatom State Nuclear Energy Corporation is building a nuclear power plant in Egypt, Lukoil and Gazprom Neft are developing oil and gas fields in Iraq, and Novatek in Lebanon. He cited the creation of a Russian industrial zone in Egypt as another example of cooperation between Russia and Arab countries. Read more