JCC calls for developing Arab-Russian economic strategy

AMMAN — Jordan Chamber of Commerce (JCC) Chairman Nael Kabariti has called for a comprehensive Arab-Russian economic strategy, based on Russia's long-standing scientific and industrial progress and broad Arab capabilities.

Speaking at the Forum of Russian-Arab Business Council, held in Dubai, Kabariti stressed the need to market and attract Arab-Russian investments to reach an economic alliance that parallels major global blocs, the Jordan News Agency, Petra, reported.

According to a JCC press statement Saturday, Kabariti said Arab-Russian relations are "historic and reflect a long-standing fabric of economic, cultural and social contact".

Kabariti urged the two sides to focus on cooperation, which involves joint scientific research, transfer of knowledge and investments based on modern technology and "not limited to real estate".

Globally, he said the biggest competition in the future will be over food security, as Russia is one of the large producing countries of foodstuff, energy globally, he noted, adding that the Arab countries and Russia own the largest oil reserves worldwide.