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Fri, 11/18/2022 - 14:20

Businesses From Asian, Arab Countries Could Replace Western Companies in Russia: Lavrov

MOSCOW (Sputnik) - Moscow prioritizes the development of ties, especially economic ones, with friendly Arab and Asian countries, whose businesses may replace Western companies that have left Russian markets after the start of military operation in Ukraine, Russian Foreign Minister Sergey Lavrov said on Friday. "Of great importance is the development of interregional ties with friendly states from among not only our neighbors but also from other regions of the world. Many countries understand that, with the cessation of work by a number of Western companies in Russia, which were banned from working on our country’s market, promising niches are opening up that could be filled by their economic operators," Lavrov said at a meeting of the council of heads of Russian regions. Lavrov added that the relevance of interregional cooperation with India and Turkey had increased significantly. Moreover, the partners are interested not only in increasing the import of energy, agricultural products, fertilizers, and precious metals from Russia but also in organizing joint production in various fields. In addition, Moscow intends to cooperate with Tehran to develop logistics, financial, and banking infrastructure, he noted. Russia is strengthening business contacts with the United Arab Emirates, Saudi Arabia, Bahrain and Oman in the investment, banking, agricultural and industrial sectors, Lavrov said. Read more: